Venezuela positioned itself as one of the 3 largest oil producers in the region, according to OLACDE.

Published at: 26/05/2026 10:19 AM

In January 2026, Venezuela was consolidated among the three main oil producers in Latin America and the Caribbean, accounting, together with Brazil and Mexico, 70% of regional production, which amounted to 361 million barrels, according to the latest monthly Oil and Gas report issued by the Latin American and Caribbean Energy Organization (OLACDE) from its headquarters in Quito.

In addition to an 11% increase in oil, the OLACDE report, which was replicated by the newspaper Última Noticias, places Venezuela with a 10% share in regional natural gas production.

Although natural gas production in the region rose 27% to 28 billion cubic meters, Venezuela has been pushed into the background. OLACDE placed the country in a secondary block, placing it behind Argentina (21%), Trinidad and Tobago (20%), Brazil (13%) and Peru (11%).

Mazo News Team