Key Market Indicators
Argentina's crude oil production is expected to drop by 2.4% on average each year, reaching 19.2 million tonnes of oil equivalent by 2026. Since 1976, output of oil in the country has decreased by a yearly average of 3.8%. In 2021, it placed 29th in the world rankings, overtaken by Libya with 21.8 million tonnes of oil equivalent. Saudi Arabia, the USA and Iraq were the top three countries.
