4 of the Biggest Oil Producers in Latin America
4 of the Biggest Oil Producers in Latin America Latin American oil production is dominated by Brazil, Mexico and Venezuela, countries that were responsible for about 75% of the region's total output in 2014. These countries are also giants on the international stage, ranking as the world's ninth, 10th and 12th biggest oil producers , respectively. Colombia also makes a good showing in the world rankings, coming in at 19th. The following list provides production figures for each of the region's top four oil producers in addition to a few details on each country's oil industry. 1. Brazil Brazil accounted for oil production of about 2.95 million barrels per day in 2014, continuing a nearly unbroken trend of increasing annual oil production since at least 1980. According to the U.S. Energy Information Administration (EIA), more than 90% of Brazil's oil production is extracted from deep-water oil fields offshore. In recent years, Brazil has made some of the world's b...