Latin America is home to vast oil and gas reserves and almost 40% of the new resources discovered globally since 2020 are in the region. However, the world is pushing to transition away from fossil fuels, and the question is if Latin America has sufficient competitive advantages to be a significant oil and gas supplier in the future. Can Latin America’s barrels compete as low-cost and low-carbon barrels? What can be done to make the region’s industry more resilient?