In February 2026, oil production in Latin America and the Caribbean (LAC) recorded a strong year‑on‑year increase of 27% and a monthly rise of 4.4%, driven by higher output in Argentina, Brazil, and Mexico. Brazil, Mexico, and Venezuela accounted for 68% of total regional supply, reaffirming their leadership in the sector. Regarding trade, 63% of total oil imports originated within the region, while only 19% of exports were directed to LAC markets, reflecting a shift toward extraregional destinations.
Natural gas production showed even greater dynamism, with a 30% year‑on‑year increase, despite a 7% monthly decline following January’s peak. Argentina and Trinidad and Tobago led regional output with 21% each, followed by Brazil with 13%. In trade flows, 40% of natural gas imports came from within the region, a sharp decrease from the previous month due to increased competitiveness of extraregional LNG.
