Shale Oil Accounts for 72% of Argentina’s Crude Output as Vaca Muerta Drives Growth
Argentina's oil production reached a record high of 902,920 barrels per day in July 2026, driven by the rapid expansion of shale output from the Vaca Muerta formation. Shale oil now accounts for 72% of total crude production after rising 1.2% month over month and 26% year over year to an all-time high of 648,347 barrels per day. The boom in unconventional resources is offsetting the decline in conventional oil output, which has dropped by half since a decade ago. Natural gas production also saw strong growth overall despite a slight monthly dip, with shale gas making up 70% of Argentina’s total natural gas output for July—also an all-time high. The Vaca Muerta's geological advantages and low breakeven costs are attracting international interest as U.S. shale plays mature.
Topics: Argentina energy production oil output record shale oil Vaca Muerta shale