In March 2026, the LAC region reported sustained growth in its hydrocarbon sector. Oil production increased by 9% year-on-year, reaching 324 million barrels (Mbbl), with Brazil, Mexico, and Venezuela accounting for 69% of the total volumen.While 53% of crude oil imports were sourced intra-regionally, exports remained focused on extra-regional markets, as only 12% of the total value of the region’s oil exports was destined for LAC countries.
Meanwhile, natural gas production grew by 5% year-on-year, reaching 22 billion m³. In a context of uncertainty in international markets due to tensions in the Middle East, LAC reaffirms its strategic importance, led by Argentina (23%), Trinidad and Tobago (21%), and Brazil (15%), which dominate regional supply.
Energy interdependence in natural gas also showed significant progress: 49% of the total value of natural gas imports was conducted between neighboring countries, consolidating regional autonomy and supply.
