Argentina Surpasses Oil Production Record Led by Vaca Muerta

Argentina's oil production reached an all-time high in May, with Vaca Muerta accounting for nearly 70% of the volumes. The country produced 904,000 barrels per day (bpd) of oil, a 19.6% increase from last year and 1.2% more than April.

The growth can be attributed to efforts to develop the vast resources in Vaca Muerta and build necessary infrastructure to transport increasing production. YPF forecasts that Argentina will surpass 1.5 million bpd by 2031 as new oil fields come online.

Billions of dollars are being invested in developing the reservoir's resources, with companies such as Pluspetrol, Geopark, YPF, and Vista pledging significant amounts to expand production. The investment drive is expected to significantly support infrastructure construction and exports as Argentina increasingly relies on energy development to drive economic growth.