Argentina reached a record crude production of 887,227 barrels per day in May. Natural gas output surged to 5.5 billion cubic feet per day, nearing an all-time high. The Vaca Muerta shale basin generated over 70% of the nation's oil output. The formation also accounted for nearly 70% of total gas production.
State-controlled YPF plans $5.8 billion in capital expenditures for 2026. The company allocated the majority of these funds to unconventional operations in Vaca Muerta. This spending is part of a broader $35.7 billion investment plan scheduled for 2025 through 2030.
Analysts project these investments could raise total crude output to 1.5 million barrels per day by 2030. This expansion positions Argentina as a fast-growing non-OPEC producer.