Vaca Muerta hits a record and eyes the one-million-barrel mark

In September, Argentina produced 973,700 barrels per day—an all-time high. Vaca Muerta now accounts for more than 70% of the nation’s crude oil, leaving the country just 26,300 barrels shy of the one-million-barrel-per-day milestone. Increased energy production translates to higher exports, greater dollar inflows, and stronger support for the Central Bank’s (BCRA) reserves—all of which improve the outlook for local assets, such as energy-sector stocks and Argentine bonds.