Latin America and the Caribbean (LAC) increased both oil and natural gas production in March this year, at a time when tensions in the Middle East are heightening uncertainty over global hydrocarbon supplies and contributing to volatility in international markets.<\/p>\n
According to the monthly report issued by the Latin American and Caribbean Energy Organization (OLACDE), the region\u2019s production capacity and intraregional trade are becoming increasingly important factors in safeguarding energy security amid a volatile international environment.<\/p>\n
Oil: 9% Growth Driven by Brazil and Mexico<\/strong><\/p>\n Regional oil production reached 324 million barrels (Mbbl), representing a 9% increase compared with March 2025 and a 1.3% rise from February 2026.<\/p>\n Brazil, Mexico, and Venezuela together accounted for 69% of total regional production:<\/p>\n \u2022 Brazil:<\/strong> 41% (leading producer) In terms of trade, 53% of LAC\u2019s total oil imports came from intraregional trade. By contrast, only 12% of the total value of oil exports was destined for other Latin American and Caribbean countries, with the majority shipped to markets outside the region.<\/p>\n Natural Gas: Growth Amid Global Uncertainty<\/strong><\/p>\n Regional natural gas production reached 22 billion m\u00b3 in March, representing 5% year-on-year growth and a similar increase compared with February. This growth is particularly significant amid attacks on energy infrastructure and geopolitical tensions affecting strategic areas such as the Strait of Hormuz.<\/p>\n Natural gas production was distributed as follows:<\/p>\n \u2022 Argentina:<\/strong> 23% (leading growth, supported by Vaca Muerta\u2019s unconventional resources) Interdependence is even more pronounced in the natural gas sector: 49% of the total value of gas imports came directly from producers within Latin America and the Caribbean, reducing external dependencies and strengthening regional security of supply.<\/p>\n The Integration Challenge<\/strong><\/p>\n The results demonstrate that the region\u2019s challenge goes beyond increasing production. It also requires improving infrastructure, fostering trade, and advancing effective regional integration to connect available energy resources with the markets where these supplies are most needed.<\/p>\n Access the Full Report:<\/strong><\/p>\n July 2026Oil and Natural Gas Report in Latin America and the Caribbean<\/a><\/p><\/blockquote>\n
\n\u2022 Mexico:<\/strong> 17%
\n\u2022 Venezuela:<\/strong> 11%
\n\u2022 Other key contributors:<\/strong> Guyana (9%), Argentina (8%), Colombia (7%), and Ecuador (5%)<\/p>\n
\n\u2022 Trinidad and Tobago:<\/strong> 21%
\n\u2022 Brazil:<\/strong> 15%
\n\u2022 Bolivia and Mexico:<\/strong> 10% each
\n\u2022 Other producers:<\/strong> Venezuela (9%), Peru (7%), Colombia (5%), and Ecuador (1%)<\/p>\n