Argentina has edged past Colombia in oil production, claiming the third spot in South America behind Brazil and Venezuela. Official figures from December indicate Argentina produced 765,600 barrels daily, compared to Colombia’s 755,469. This shift is primarily due to the massive Vaca Muerta shale field, which alone increased its output by 26.9% year-over-year, contributing significantly to Argentina’s total. Argentina’s increase in oil production is driven by pro-business policies under President Javier Milei, focusing on deregulation and investment incentives. This development could alter regional energy markets by reducing Argentina‘s import needs and boosting its export potential.
February 6, 2025
SOURCE: RIO TIMES
Argentina’s Oil Output Surpasses Colombia, Reshaping South American Energy Dynamics