Oil’s Surge Forces Latin America to Overhaul Its Energy Policies

A worker inspects the fossil fuel processing plant following general maintenance at the Ecopetrol Barrancabermeja refinery in Barrancabermeja, Santander department, Colombia. — A worker inspects the fossil fuel processing plant following general maintenance at the Ecopetrol Barrancabermeja refinery in Barrancabermeja, Santander department, Colombia.
Photographer: Esteban Vanegas/Bloomberg

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By Andreina Itriago and Jim Wyss

March 22, 2026 at 10:31 PM UTC

Lea en español

Latin American governments are launching a sweeping realignment of energy and fiscal policies, warning that the surge in oil prices from the Iran war threatens regional stability.