Minor amounts of oil have been produced from the
Woodbourne area of Barbados since 1979. The limited size of this area
suggests that there is little chance of significant production increases
in the future.
Minor amounts of gas are also produced.
consumes modest volumes of oil, which declined after 1998 due to
recession in Latin America. Very small volumes of local gas are
The country imports almost all of its oil and higher prices have slowed
growth in demand, even as the country’s economy grew. Consumption is now
flat but declines are expected after 2015 when oil prices rise
significantly due to tighter global supply.