Latin America and the Caribbean increased its oil production by 6% and natural gas production by 3% year on year in May 2026, according to the Latin American and Caribbean Energy Organization’s (OLACDE) monthly oil and gas report for that month. The increase came alongside a strong trade orientation toward external markets, which accounted for 91% of the value of oil exports and supplied 81% of the value of natural gas imports.
Oil production reached 307 million barrels, an increase of 4.8% compared with April 2026. Brazil, Mexico and Venezuela accounted for 70% of the regional total, making them the leading producers during the month.
Natural gas production reached 25.1 billion cubic meters, up 3% from the previous month. Over the past 12 months, the region maintained production above 23 billion cubic meters per month. Brazil led with 26% of the total, followed by Argentina with 20% and Trinidad and Tobago with 17%.
Trade among countries in the region varied significantly by hydrocarbon: it accounted for 51% of the value of oil imports, but just 19% of the value of natural gas imports. These shares reflect the monetary value of trade, not physical volumes or proportions of regional consumption.
OLACDE’s report provides information to assess supply trends and trade relationships amid international geopolitical uncertainty. Drawing on production data from sieLAC and foreign trade data from Trade Map, the publication offers evidence to inform decisions on energy security and regional integration.
Full report: https://www.olacde.org/wp-content/uploads/2026/10/reporte_pyg_5_esp.pdf
