Argentina’s mining and energy production, which includes crude oil and natural gas production, services, and mineral extraction, rose 7.8% in May compared to a year ago.
The newly launched index, a reflection of the government’s push to ramp up the energy and mining sectors to support the key economic driver of agriculture, saw output rise 10.7% in January through May from the same five months in 2022.
Argentina’s crude oil production rose 9% in the month, while natural gas fell 0.8%.
Oil and gas services also increased by 24.4%, according to the government’s INDEC statistics agency.
Meanwhile, metallic minerals are down 17.3% in the month compared to a year earlier.
