Drilling and fracking activity in Argentina’s Vaca Muerta, the world’s fourth-largest unconventional oil reserve, is plateauing due to lower oil prices and rising costs, impacting President Milei’s political agenda. Despite Vaca Muerta accounting for 64% of Argentina’s oil production, slowdowns are expected, with a decrease in wells drilled and fracking stages in July. Oil production costs in Vaca Muerta are 35% to 40% higher than in the Permian formation in the U.S., leading to challenges for companies like Delgado Industrias and Duralitte. Major oil companies are urging the government to adopt policies to boost exports and attract foreign investment.

Read more at Yahoo Finance: Slowing Vaca Muerta oil activity could pose challenge for Argentina’s Milei