Vaca Muerta drives Argentine oil production to a historic record

Argentina's oil production reached 916,200 barrels per day in July 2026, the highest historical figure for the country. The volume represented a year-on-year increase of 17.2%, driven mainly by the performance of Vaca Muerta and the Neuquén basin.

Unconventional development produced 643,100 barrels per day during the month, a 26.4% improvement compared to July 2025. As a result, Vaca Muerta accounted for more than 70% of the crude extracted nationwide.

The production expansion was reflected in foreign trade figures. Between January and July, crude oil exports reached $5.722 billion, up 59.2% over the same period the previous year. The sector accounted for 9.8% of Argentina's foreign sales, surpassing soybean meal and pellets.

In July, shipments of crude oils totaled $1.020 billion, up 144.4% year-on-year. For the year-to-date period, exports of gasoline, liquefied butane and liquefied propane also grew, totaling $401 million, $255 million and $187 million, respectively.

Fuel and energy exports reached $1.506 billion in July, while sector imports totaled $614 million. The difference left a monthly energy surplus of $892 million. Between January and July, the accumulated positive balance reached $6.853 billion, up 84% from the same period in 2025.

The growth was mainly linked to higher volumes: exported quantities of fuel and energy rose 30.3%, compared to a 15% increase in prices. Meanwhile, natural gas production remained stable at 158.8 million cubic meters per day, with Vaca Muerta contributing 96.5 million, a year-on-year increase of 5.9%.

The evolution of oil production highlights the need to expand pipelines, port terminals and evacuation systems. The availability of infrastructure will be crucial for the increased supply to translate into higher exports and to avoid logistical constraints on growth.

With information from Energía Online.