Argentina’s surging shale oil production is feeding more supplies to the country’s refineries, helping to increase run rates, the Neuquen government said Wednesday. Refineries operated at an average of 78.3% of capacity in May, the highest rate in seven months, the state statistics agency Indec reported Monday. The government of Neuquen, home to most of the country’s shale resources, said in a statement that the increase was a direct result of the “takeoff of Vaca Muerta,” a giant shale play. Vaca Muerta is leading a recovery in the country’s oil production, which rose 4.2% to 505,651 b/d in May from 485,165 b/d a year earlier, according to the latest data from the Energy Secretariat. The play’s output has been offsetting declines in conventional oil production, making it possible to reduce crude imports and now […]