Latin America’s oil production past its peak

Latin America’s production of conventional oil reached its peak during the last decade and is now in a process of inexorable decline, according data released by ASPO, the Association for the Study of Peak Oil and Gas.

Considering all of Latin America, ASPO’s data points out that the region reached its oil production peak in 1998, while the peak of oil discovery came in 1977. Normally, any oil producing region, be it a single field or an entire continent, reaches its peak production rate some time after discoveries reach their maximum. ASPO’s data is consistent with that methodology.

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