- Oil Production refers to the total amount of crude oil extracted from underground reservoirs within a country during a given year, before any refining or processing takes place.
Argentina Oil Production was 1.07 Million Barrels Daily in 2023, up 12.5% on 2022. The Oil Production dataset of Argentina from 2015 to 2023 provides a clear and consistent view of the country's oil production landscape, highlighting output trends, production levels, supply changes, industry performance, and annual market developments over the observed period.
Argentina Oil Production moved from 0.646 Million Barrels Daily in 2015 to 1.07 Million Barrels Daily in 2023 (+66.3%), an average of +6.6% a year. The series high was 1.07 Million Barrels Daily in 2023 and the low 0.590 Million Barrels Daily in 2017.
The gap between the series high (2023) and low (2017) is 0.484 Million Barrels Daily. The sharpest single-year move was +21.6% in 2019.
Among the 27 countries in this dataset, Argentina ranks 14 for 2023, behind U.S. (19.36 Million Barrels Daily) and Saudi Arabia (11.39 Million Barrels Daily). It accounts for 1.1% of the global total in 2023.
Full series
Complete annual series with year-on-year change. Values are reported in Million Barrels Daily.
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| Year | Million Barrels Daily | Change vs prior year |
|---|---|---|
| 2023Peak | 1.07 | +12.5% |
| 2022 | 0.955 | +19.8% |
| 2021 | 0.797 | +10.5% |
| 2020 | 0.721 | +0.1% |
| 2019 | 0.720 | +21.6% |
| 2018 | 0.592 | +0.3% |
| 2017 Trough | 0.590 | −3.3% |
| 2016 | 0.610 | −5.6% |
| 2015 | 0.646 | — |
Regional context
Oil Production by country, 2023, Million Barrels Daily. Argentina is highlighted.
Data definition
Oil Production — - Oil Production refers to the total amount of crude oil extracted from underground reservoirs within a country during a given year, before any refining or processing takes place. It is typically measured in thousand barrels per day (kb/d) and represents the output of crude petroleum from both conventional and unconventional sources. This indicator reflects a country’s upstream oil industry performance, resource availability, and role in global energy supply. It is widely used to assess production trends, energy security, and dependence on oil resources for economic development.
The data includes crude oil extracted from both onshore and offshore oil fields, covering production from conventional wells as well as unconventional sources such as tight oil and shale oil where applicable. It includes all crude oil produced at the wellhead before refining, processing, or blending. The indicator may also include lease condensate when reported as part of crude oil production in national energy statistics. Data is compiled from national energy agencies, oil companies, and standardized international energy databases, ensuring consistency in comparing production levels across countries and over time.
The data excludes refined petroleum products such as gasoline, diesel, jet fuel, kerosene, LPG, and other products derived from crude oil after refining. It does not include natural gas production, natural gas liquids (except where classified as condensate under crude oil reporting), biofuels, synthetic crude from coal-to-liquids or gas-to-liquids processes, or refinery gains. The indicator does not measure oil consumption, reserves, imports, exports, or refining capacity. Minor variations may arise due to differences in national reporting standards, classification of condensates, and estimation methodologies used across countries.
Oil Production — - Oil Production refers to the total amount of crude oil extracted from underground reservoirs within a country during a given year, before any refining or processing takes place. It is typically measured in thousand barrels per day (kb/d) and represents the output of crude petroleum from both conventional and unconventional sources. This indicator reflects a country’s upstream oil industry performance, resource availability, and role in global energy supply. It is widely used to assess production trends, energy security, and dependence on oil resources for economic development.
Measured in thousand barrels daily, the dataset reflects total oil production and serves as an important indicator of upstream activity, domestic energy supply, investment trends, resource development, and the overall performance of Argentina's petroleum sector. The dataset enables detailed assessment of production behavior across conventional and unconventional resources, as well as the evolving structure of the country's upstream oil industry.
Argentina produced 646 thousand barrels daily in 2015 before declining to 610 thousand in 2016 and 590 thousand in 2017. Production remained relatively stable at 592 thousand barrels daily in 2018 before rising sharply to 720 thousand in 2019 and 721 thousand in 2020, supported by improved shale oil activity and early development of unconventional resources. Output increased further to 797 thousand barrels daily in 2021, followed by 955 thousand in 2022 and 1,074 thousand in 2023, marking a strong upward trajectory driven primarily by the expansion of the Vaca Muerta shale formation, increased drilling activity, and sustained upstream investment.
Overall, the dataset demonstrates a clear structural shift in Argentina’s oil production, moving from stagnation and decline in the early years to rapid growth in the later period. The strong recovery highlights the increasing importance of unconventional resources in offsetting mature field declines and reshaping the country's energy production profile. This trend also reflects improved investor confidence and technological adoption in shale extraction.
The dataset serves as a valuable resource for monitoring national oil production performance, evaluating supply trends, assessing upstream investment, supporting market analysis, forecasting future production, and enabling policymakers, researchers, investors, and industry stakeholders to develop effective energy strategies and production planning.
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Definition- Oil Production refers to the total amount of crude oil extracted from underground reservoirs within a country during a given year, before any refining or processing takes place. It is typically measured in thousand barrels per day (kb/d) and represents the output of crude petroleum from both conventional and unconventional sources. This indicator reflects a country’s upstream oil industry performance, resource availability, and role in global energy supply. It is widely used to assess production trends, energy security, and dependence on oil resources for economic development.
Argentina Oil Production was 1.07 Million Barrels Daily in 2023, up 12.5% on 2022.
Argentina Oil Production moved from 0.646 Million Barrels Daily in 2015 to 1.07 Million Barrels Daily in 2023 (+66.3%), an average of +6.6% a year. The series high was 1.07 Million Barrels Daily in 2023 and the low 0.590 Million Barrels Daily in 2017.
The highest value was 1.07 Million Barrels Daily in 2023 and the lowest was 0.590 Million Barrels Daily in 2017.
Included: The data includes crude oil extracted from both onshore and offshore oil fields, covering production from conventional wells as well as unconventional sources such as tight oil and shale oil where applicable. It includes all crude oil produced at the wellhead before refining, processing, or blending. The indicator may also include lease condensate when reported as part of crude oil production in national energy statistics. Data is compiled from national energy agencies, oil companies, and standardized international energy databases, ensuring consistency in comparing production levels across countries and over time. Excluded: The data excludes refined petroleum products such as gasoline, diesel, jet fuel, kerosene, LPG, and other products derived from crude oil after refining. It does not include natural gas production, natural gas liquids (except where classified as condensate under crude oil reporting), biofuels, synthetic crude from coal-to-liquids or gas-to-liquids processes, or refinery gains. The indicator does not measure oil consumption, reserves, imports, exports, or refining capacity. Minor variations may arise due to differences in national reporting standards, classification of condensates, and estimation methodologies used across countries.
The series is sourced from energyinst.org (https://www.energyinst.org/__data/assets/pdf_file/0006/1542714/684_EI_Stat_Review_V16_DIGITAL.pdf). It covers 2015–2023 and is reported in Million Barrels Daily.
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