Vaca Muerta shale boom lifts Argentina oil output 14%, targets 1M bpd

Argentina's Vaca Muerta unconventional basin now accounts for 70% of national petroleum production, with output up 14% year-on-year and annual investment exceeding US$12 billion. The country aims to reach one million barrels per day, signaling a structural shift toward energy self-sufficiency and export capacity, though infrastructure and fiscal sustainability remain uncertain.