Oil Rally Can Boost Argentina Shale Industry, Vista CEO Says

Higher oil prices stemming from the war in Iran could boost capital expenditure in Argentina’s thriving shale patch where production is already accelerating, Vista Energy SAB Chief Executive Officer Miguel Galuccio said in an interview.

Even before oil rose back to $100 a barrel Thursday, crude drillers in Argentina were poised to ramp up production this year to a level that would put the country inside the top 20 globally. Those plans, drafted prior to the conflict, accounted for Brent to be around $65. That’s why Galuccio, who leads Argentina’s second biggest shale oil company, thinks investments and exports may move even quicker.