What is the Latin America Energy Outlook 2023?

Our Latin America Energy Outlook 2023 – the first IEA outlook for the region – contains in-depth country and regional analysis of energy and climate trends, identifying opportunities and key challenges, as more robust growth returns. This report explores three scenarios.

How does Latin America and the Caribbean use its vast resources?

How Latin America and the Caribbean uses its vast resources will shape the region’s energy future and the role it plays in the global energy system. Latin America and the Caribbean encompasses a region that is both large and diverse in terms of economic development and natural resources.

Can biofuels be used in Latin America and the Caribbean?

Latin America and the Caribbean has huge potential to expand the production of low-emissions fuels. Bioenergy is a growing industry in the region and biofuels, in particular, can help meet both energy security and climate targets. Brazil is a prominent producer and consumer of biofuels, with bioethanol used heavily in road transport.

What role does Latin America play in the new energy economy?

Latin America and the Caribbean today represents 8% of the global population and 7% of the global economy, but it can play an outsized role in the new energy economy. With large oil and gas resources, the region can help diversify oil and gas supply in the near term.

How much oil does Latin America produce a day?

Latin America and the Caribbean produced over 8 million barrels of oil per day (mb/d) in 2022, exceeding regional demand with a production value of USD 230 billion, with more resources available to step up production.