Latin America’s third largest economy is reporting record-breaking hydrocarbon production. Shale oil and natural gas output from the Vaca Muerta basin have been vital in Argentina’s push to ramp up production. Some analysts are forecasting that Argentina will be pumping 1 million barrels of petroleum by 2026 seeing exports reach 500,000 barrels per day or more. In a surprise development, Latin America’s third largest economy Argentina reported record hydrocarbon production for May 2022. For that month Argentina pumped an average of 574,465 barrels of crude oil and 136 million cubic meters of natural gas per day. Those volumes represent a 0.9% and 6.8% increase respectively over a month prior and a notable 13.9% and 6.9% higher year over year. The key driver of that impressive leap in production volumes was growing shale oil and natural gas output from the Vaca Muerta. Ministry of Economy data shows (Spanish) that Argentina […]