Business · Energy & Commodities · 3 hrs ago
Milei says Argentina is close to producing 1 million barrels of oil a day
Argentina’s oil production reached 932,000 barrels a day in August, according to President Javier Milei, who says the country is close to producing 1 million a day.
The growth is closely linked to Vaca Muerta, a major oil-producing region where output reportedly topped 670,000 barrels a day in August.
Milei said national production was about 635,000 barrels a day in 2023, while Vaca Muerta averaged around 310,000.
He credited his government’s removal of oil-market controls with encouraging more investment and production.
Milei also said daily oil exports had doubled from their 2023 average and reached nearly 330,000 barrels in July.
The higher output could make Argentina a more significant regional oil exporter, moving it beyond near self-sufficiency.
Milei says his administration aims to reach 18,000 deregulations by the end of the month.
Argentina is close to producing 1 million barrels of oil a day, President Javier Milei said on October 19.
Milei said national production reached 932,000 barrels a day in August 2026, which he described as a record.
He attributed the increase to regulatory changes by his government, including removing the “criollo barrel” price mechanism.
Milei said production in the Vaca Muerta region exceeded 670,000 barrels a day in August.
He also said oil exports had grown, reaching nearly 330,000 barrels a day in July.
- Who
- Argentine President Javier Milei made the statement.
- What
- He said Argentina was close to producing 1 million barrels of oil a day.
- When
- October 19, 2026.
- Where
- Argentina, with particular attention to the Vaca Muerta region.
- Why
- Milei cited rising production and credited his government’s regulatory changes with encouraging investment and output.
This story does not have two clearly opposing sides.
Milei said Argentina produced about 635,000 barrels of oil a day nationally and Vaca Muerta averaged around 310,000 barrels a day.
Milei said Argentina exported nearly 330,000 barrels of oil a day.
Milei said national production reached 932,000 barrels a day and Vaca Muerta production exceeded 670,000 barrels a day.
Milei said Argentina was a few steps away from producing 1 million barrels of oil a day.
- National production
- 932,000 barrels a day in August 2026, according to Milei
- Vaca Muerta production
- More than 670,000 barrels a day in August 2026, according to Milei
- National production in 2023
- About 635,000 barrels a day, according to Milei
- Oil exports
- Nearly 330,000 barrels a day in July 2026, according to Milei
- Regulatory target
- 18,000 deregulations by the end of the month, Milei said
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What people are saying
Today, for the first time in history, we are a few steps away from one million barrels a day.
today produces more than double
18,000 deregulations
underground revolution