The 2026 Outlook for South America’s Top 5 Oil Producers

Last year was an event-filled period for South America’s growing oil industry. The continent’s energy map is being rewritten by a few unexpected world-class oil booms, which makes the region a key source of non-OPEC production growth. There is also the potential for Venezuela to reemerge as a major petroleum producer after U.S. President Donald Trump launched Operation Southern Spear in August 2025, which culminated with President Nicolas Maduro’s capture in a daring night raid. Let us take a closer look at what lies ahead for…