Latin American oil producers rally as WTI crude prices rise

Oil-tracking shares and Latin American producers saw gains on Monday, August 17, 2026, as the USO fund tracking WTI crude rose 2.91% to close at US$130.29.

In Latin America, Argentina’s YPF led the regional rally with a 5.29% increase to US$52.70, driven by investor interest in the Vaca Muerta shale project. Brazil’s Petrobras rose 2.07% to US$18.25, while Colombia’s Ecopetrol climbed 2.91% to US$17.67.

The market movement follows supply discipline from US shale producers and shifting geopolitical dynamics, including potential pipeline projects in Libya and Egypt, as well as developments regarding Venezuelan oil output.