Overview
- Argentina averaged 859,500 barrels per day in October, its highest monthly output on record, surpassing the 1998 peak.
- Unconventional production from the Neuquén basin grew about 30% year over year, offsetting a 7% decline in conventional fields and making Vaca Muerta the main source of supply.
- The Oldelval pipeline expansion lifted takeaway capacity to 540,000 barrels per day from 225,000, easing a key bottleneck and lowering logistics costs.
- The energy trade swung further into surplus, with a $615 million positive balance in October and $6.07 billion year to date, supported by rising exports and lower imports.
- YPF hit a company record of 190,000 barrels per day of shale output in October, as operators pursue further growth but flag higher drilling costs and service‑market constraints.