Argentina is currently in a strong position in the oil production arena, with a daily increase of 32.6 % since 2023, when Javier Milei assumed the presidency.

“In addition to the slowdown in inflation and the reduction of poverty, there is now another piece of data of enormous strategic importance: daily oil production has increased by 32.6 %,” according to official data from the Ministry of Economy, which shows that the country “went from producing 677,118 barrels per day in December 2023 to 897,722 in June 2026.”

In short, Argentina is about to surpass 900,000 barrels per day and is getting closer to a figure that for years seemed out of reach: one million barrels per day.

Changes with Milei’s rise to power

The Argentine president initiated an economic transformation starting in late 2023, promising to “drastically reduce the size of the state, put public finances in order, and eliminate many of the obstacles that for decades hindered private investment.”

Oil production has contributed to the economic recovery, increasing production by more than 220,000 new barrels per day between December 2023 and June 2026.

M.Pino

Source: gaceta

(Reference image source: WORKSITE Ltd. on Unsplash)

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