The region is entering a new phase of expansion in the hydrocarbon sector. According to the latest Oil and Natural Gas Report from OLACDE, oil production rose 27% year-on-year in February 2026, reaching 377 million barrels, compared to 298 million in the same month of the previous year.<\/p>\n
This increase reflects a significant restructuring of the regional energy landscape. Operating activity in Vaca Muerta (Argentina), record-high extraction from Brazil’s Pre-Salt layer, and rising production in Mexico are pushing regional supply to levels not seen in the past twelve months.
\nOn a monthly basis, growth of 4.4% was also reported compared to January, driven by the recovery observed in Brazil and Venezuela following the previous month’s declines. Brazil, Mexico, and Venezuela account for 68% of all regional oil production, underscoring the crucial role these three countries play in the dynamism of this sector in the region.<\/p>\n
Natural gas: even faster growth<\/strong><\/p>\n Natural gas production grew at an even faster pace. According to the report, it reached 26 billion cubic meters, representing a 30% year-on-year increase. Argentina and Trinidad and Tobago dominate the market with a 21% share each; they are followed by Brazil with 13%, Peru with 12%, while Venezuela, Bolivia, and Mexico each account for close to 9%.
\nThe driving force behind this advance once again comes primarily from Argentina and Brazil. The development of shale gas in Vaca Muerta, together with unprecedented production from Brazil’s pre-salt fields, is reshaping the regional supply matrix just as natural gas establishes itself as an energy source supporting electricity systems with high renewable penetration.<\/p>\n
\nOLACDE’s report confirms that the region, while leading globally in renewable electricity, is also strengthening its role as a strategic global supplier of hydrocarbons.<\/p>\n