- Oil Production refers to the total amount of crude oil extracted from underground reservoirs within a country during a given year, before any refining or processing takes place.
South and Central America Oil Production was 7.37 Million Barrels Daily in 2023, up 11.2% on 2022. The Oil Production dataset of South and Central America from 2015 to 2023 provides a comprehensive overview of regional crude oil production, highlighting output trends, production levels, supply changes, industry performance, and annual market developments across the region.
South and Central America Oil Production moved from 7.99 Million Barrels Daily in 2015 to 7.37 Million Barrels Daily in 2023 (−7.8%), an average of −1% a year. The series high was 7.99 Million Barrels Daily in 2015 and the low 6.09 Million Barrels Daily in 2020.
The gap between the series high (2015) and low (2020) is 1.90 Million Barrels Daily. The sharpest single-year move was +11.2% in 2023.
Within South and Central America, Brazil has the highest value in 2023 at 3.50 Million Barrels Daily, 47.5% of the regional total.
Country ranking
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By region
Million Barrels Daily, 2023. Each bar is that region's total.
Full series
Complete annual series with year-on-year change. Values are reported in Million Barrels Daily.
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| Year | Million Barrels Daily | Change vs prior year |
|---|---|---|
| 2023 | 7.37 | +11.2% |
| 2022 | 6.63 | +8.4% |
| 2021 | 6.11 | +0.4% |
| 2020 Trough | 6.09 | −5.3% |
| 2019 | 6.43 | −3.5% |
| 2018 | 6.66 | −8.4% |
| 2017 | 7.28 | −4.2% |
| 2016 | 7.59 | −5% |
| 2015Peak | 7.99 | — |
Data definition
Oil Production — - Oil Production refers to the total amount of crude oil extracted from underground reservoirs within a country during a given year, before any refining or processing takes place. It is typically measured in thousand barrels per day (kb/d) and represents the output of crude petroleum from both conventional and unconventional sources. This indicator reflects a country’s upstream oil industry performance, resource availability, and role in global energy supply. It is widely used to assess production trends, energy security, and dependence on oil resources for economic development.
The data includes crude oil extracted from both onshore and offshore oil fields, covering production from conventional wells as well as unconventional sources such as tight oil and shale oil where applicable. It includes all crude oil produced at the wellhead before refining, processing, or blending. The indicator may also include lease condensate when reported as part of crude oil production in national energy statistics. Data is compiled from national energy agencies, oil companies, and standardized international energy databases, ensuring consistency in comparing production levels across countries and over time.
The data excludes refined petroleum products such as gasoline, diesel, jet fuel, kerosene, LPG, and other products derived from crude oil after refining. It does not include natural gas production, natural gas liquids (except where classified as condensate under crude oil reporting), biofuels, synthetic crude from coal-to-liquids or gas-to-liquids processes, or refinery gains. The indicator does not measure oil consumption, reserves, imports, exports, or refining capacity. Minor variations may arise due to differences in national reporting standards, classification of condensates, and estimation methodologies used across countries.
Oil Production — - Oil Production refers to the total amount of crude oil extracted from underground reservoirs within a country during a given year, before any refining or processing takes place. It is typically measured in thousand barrels per day (kb/d) and represents the output of crude petroleum from both conventional and unconventional sources. This indicator reflects a country’s upstream oil industry performance, resource availability, and role in global energy supply. It is widely used to assess production trends, energy security, and dependence on oil resources for economic development.
Measured in thousand barrels daily, the dataset represents the combined oil production of Brazil, Argentina, Colombia, and the remaining producing countries. It serves as an important indicator of upstream activity, domestic energy supply, resource development, investment trends, and the overall performance of the region's petroleum industry.
South and Central America produced 7,991 thousand barrels daily in 2015 before declining to 7,590 thousand in 2016 and 7,275 thousand in 2017. Regional production continued to decrease to 6,661 thousand barrels daily in 2018 and 6,426 thousand in 2019 before falling further to 6,086 thousand in 2020. Output remained relatively stable at 6,111 thousand barrels daily in 2021 before recovering to 6,626 thousand in 2022 and 7,368 thousand barrels daily in 2023. Throughout the review period, Brazil remained the region's largest producer and recorded strong production growth, while Argentina experienced significant expansion during the later years. Colombia recorded moderate fluctuations, whereas production from the remaining countries generally declined over the review period.
Overall, the dataset illustrates a regional production decline during the first half of the review period, followed by a clear recovery in the final years. Growth in Brazil's offshore production and Argentina's unconventional oil development helped offset declines in several other producing countries. Continued upstream investment, technological advancement, and resource development remain important for sustaining regional production and strengthening long-term energy security.
The dataset serves as a valuable resource for monitoring regional oil production performance, evaluating supply trends, supporting market analysis, forecasting future production, and enabling policymakers, researchers, investors, and industry stakeholders to develop effective energy strategies and production planning.
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Definition- Oil Production refers to the total amount of crude oil extracted from underground reservoirs within a country during a given year, before any refining or processing takes place. It is typically measured in thousand barrels per day (kb/d) and represents the output of crude petroleum from both conventional and unconventional sources. This indicator reflects a country’s upstream oil industry performance, resource availability, and role in global energy supply. It is widely used to assess production trends, energy security, and dependence on oil resources for economic development.
South and Central America Oil Production was 7.37 Million Barrels Daily in 2023, up 11.2% on 2022.
South and Central America Oil Production moved from 7.99 Million Barrels Daily in 2015 to 7.37 Million Barrels Daily in 2023 (−7.8%), an average of −1% a year. The series high was 7.99 Million Barrels Daily in 2015 and the low 6.09 Million Barrels Daily in 2020.
The highest value was 7.99 Million Barrels Daily in 2015 and the lowest was 6.09 Million Barrels Daily in 2020.
Included: The data includes crude oil extracted from both onshore and offshore oil fields, covering production from conventional wells as well as unconventional sources such as tight oil and shale oil where applicable. It includes all crude oil produced at the wellhead before refining, processing, or blending. The indicator may also include lease condensate when reported as part of crude oil production in national energy statistics. Data is compiled from national energy agencies, oil companies, and standardized international energy databases, ensuring consistency in comparing production levels across countries and over time. Excluded: The data excludes refined petroleum products such as gasoline, diesel, jet fuel, kerosene, LPG, and other products derived from crude oil after refining. It does not include natural gas production, natural gas liquids (except where classified as condensate under crude oil reporting), biofuels, synthetic crude from coal-to-liquids or gas-to-liquids processes, or refinery gains. The indicator does not measure oil consumption, reserves, imports, exports, or refining capacity. Minor variations may arise due to differences in national reporting standards, classification of condensates, and estimation methodologies used across countries.
The series is sourced from energyinst.org (https://www.energyinst.org/__data/assets/pdf_file/0006/1542714/684_EI_Stat_Review_V16_DIGITAL.pdf). It covers 2015–2023 and is reported in Million Barrels Daily.
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