Core Insights - Argentina's unconventional oil production reached a historical high in September 2025, with an average daily output of 833,874 barrels, marking a 2% increase from August and a 14% increase year-on-year [1] - The growth in unconventional oil production is entirely driven by shale oil, with conventional oil production remaining stable [1] - Shale oil's average daily output surged by 30% year-on-year to 550,881 barrels, accounting for 66% of the country's total oil production, a record high [1] - The increase in oil and gas production has significantly boosted exports, improved trade balance, and enhanced federal revenue, providing critical momentum to Argentina's economy [1] - In contrast, natural gas production declined, with September's output at 4.9 billion cubic feet, down 6% month-on-month and 12% year-on-year, primarily due to a significant drop in shale gas production [1] Industry Outlook - Foreign investment in the oil and gas sector is on the rise, driven by President Milei's aggressive economic reforms that have eliminated strict capital controls and significantly reduced inflation [2] - Investment in the Vaca Muerta shale formation is expected to increase substantially from 2025 to 2030, with projections indicating that Argentina's average daily oil production could exceed 1 million barrels by the end of 2030 [2]