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Argentina Surpasses Colombia in Oil Production, Reaching 765,000 Barrels Per Day to Colombia's 755,000
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2 days ago
Argentina has surpassed Colombia in oil production, reaching 765,000 barrels per day in December 2024, compared to Colombia's 755,000 barrels per day. This shift marks Argentina as South America's third-largest oil producer. The increase in Argentina's production is largely attributed to the development of the Vaca Muerta oil field, which has seen substantial investments, while Colombia's oil industry is facing challenges such as higher taxes and reduced investment. As a result of this decline, Colombia may need to import more fuels, according to the Colombian Association of Oil and Gas. The official figures confirming this change in production levels were released by governmental agencies.