Argentina's Oil Output Up, but Labor, Other Setbacks Loom

Argentina's Oil Output Up, but Labor, Other Setbacks Loom

Argentina

September 28, 2022--Researched by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Oil production in Argentina hit its highest volumes since 2010, following increased shale-oil output. But an explosion at a major refinery highlighted some of the obstacles Argentina faces in reaching stability.

Last month, Argentina's oil production averaged 590,000 barrels per day (BBL/d), its highest output in the past 12 years. The volumes represented a 14% increase when compared with August of last year. This follows new records in unconventional oil production, which averaged 250,000 BBL/d in August, a 52% increase year-over-year.

Despite its constant growth in oil and gas production, especially in its shale assets, Argentina remains a politically, economically and socially unstable country.

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