Why Argentina’s Shale Boom Matters for Global Energy Markets
Kuwait Offers First Crude Cargoes to Asia since Iran War Started A new solar-powered desalination technology… As Oilprice’s South America correspondent, I cover Colombia (where I currently live), Venezuela, Ecuador, Peru, Brazil, Argentina, Chile, Bolivia, Paraguay, Guyana, Suriname and Uruguay.
I… Argentina’s epic unconventional oil boom is going from strength to strength.
At the end of 2024, South America’s third-largest economy emerged as thecontinent’s fourth-largest oil producer.
After production faltered at the end of 2025, output bounced back to near record levels at a crucial time for world energy markets.
Theclosure of the Strait of Hormuzis impacting global oil supply, triggering a price shock that could push vulnerable economies into recession.
The 8.6-million-acre Vaca Muerta shale will make Argentina aglobal energy powerhouse.
Government datashows that for April 2026, Argentina lifted a record 881,809 barrels of crude oil per day.
This was not only 1.4% higher than a month prior but represents a notable 19% increase over a year earlier.
This solid increase in petroleum production is attributable to the strong growth of unconventional oil output from the Vaca Muerta shale, which hit an all-time high during April 2026 of 618,849 barrels per day.
As a result, shale oil now makes up over 70% of Argentina’s total petroleum output, the highest proportion ever.
Natural gas production also recovered during April 2026, hitting a nine-month high of nearly five billion cubic feet per day.
This is 1.4% higher month over month and a 1.5% greater than the same period a year earlier.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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