This species was discovered as a result of a study of museum specimens of Sun Conure and related species; specimens of this species had previously been dismissed as immature parakeets of other species, or hybrids.
The Sulphur-breasted Parakeet is found east of Óbidos on the northern bank of the lower River Amazon in Pára state, Brazil. Additionally, three recently located specimens kept at the National Museum of Natural History, the Netherlands, have been identified as this species. They were taken from Paroe Savanna in southern Suriname, and suggest this species possibly comes into contact with the closely related and very similar Sun Conure.
The species' scientific name honours Oliverio Pinto, a Brazilian ornithologist.