Argentina's shale surge turns the nation into a net energy exporter
Argentina's shale production rose 28% year-on-year, pushing shale to 71% of its oil and gas output and making crude its top export.
Shale now accounts for the majority of Argentina's oil and gas output, with a 28% annual increase. The country posted a record $7.8 billion energy surplus after becoming a net exporter in 2024. Crude oil has overtaken traditional agricultural products as the leading export. The expansion of Vaca Muerta fields and the ongoing Iran conflict, which lifted global oil prices, have accelerated the shift.
Why it matters
The shift makes Argentina a major new supplier in global oil markets, affecting trade balances and energy prices.
In this story
shale productionenergy surpluscrude exportVaca Muertaoil pricesIran warglobal oil market