Export flows remained heavily oriented toward extra-regional markets, with 79% of the region’s oil exports directed to major global consumption centers. Intra-regional trade accounted for 21% of export value, while imports told a different story: 54% of the total value of oil purchased by Latin American and Caribbean countries came from within the region itself, with the remaining 46% sourced from external suppliers.
Natural gas production demonstrated similar growth patterns, reaching 21.7 billion cubic meters in April 2026, an 8.5% increase year-on-year. Argentina and Trinidad and Tobago each captured 22% of regional gas output, followed by Brazil at 14%, Bolivia at 12%, and Mexico at 10%. The remaining 20% was distributed among Venezuela, Peru, Colombia, and Ecuador. More than 70% of the gas produced stayed within Latin America and the Caribbean for domestic consumption, bolstering energy security amid global market volatility.
Import dependency for natural gas remained significant, however, with 65% of external purchases originating from suppliers outside Latin America and the Caribbean. Only 35% of imported gas came from regional providers, highlighting what OLACDE characterized as unequal commercial integration. The organization emphasized that accelerating cross-border infrastructure development and intra-regional trade agreements is essential for consolidating continental energy security in an environment of heightened geopolitical uncertainty. The production data emerged as Middle East tensions escalated in early 2026, disrupting maritime trade routes and elevating global concerns over supply stability.
This article was curated and published as part of our South American energy market coverage.
