Argentina's Oil Production Surges as Vaca Muerta Breaks New Records

Argentina's oil production is soaring as the Vaca Muerta shale formation continues to break new records. In May, the country reported an all-time high of 887,227 barrels per day, a 0.6% increase from the previous month and 19% higher than the same period in 2025. Natural gas output also rose to 5.5 billion cubic feet per day, just shy of the record 5.7 billion cubic feet daily reported for July 2025.

The Vaca Muerta formation is responsible for this growth, with shale oil making up 70.6% and shale gas accounting for 69.8% of total output. This is a significant milestone for Argentina, which has recently overtaken Colombia to become South America's fourth largest oil producer.

Analysts expect Argentina's oil production to reach one million to 1.5 million barrels daily by 2030, with natural gas output soaring to over 6 billion cubic feet per day. This growth is driven by foreign investment, with estimates suggesting that $10 billion will be invested in the Vaca Muerta this year alone.