Some Opec-plus countries have begun positioning themselves for revisions to production baselines, due to be used for new quotas from next year.

YPF’s new “4x4” strategy sets aggressive goals for the Argentine state firm. Production growth, financial performance gains, operational efficiencies and new LNG ventures are on the near-term agenda. Its core long-term corporate strategy is comprised of three key stages: an immediate focus on the monetization of existing crude oil resources, a ramp-up in focus on natural gas and LNG, and then a pivot to clean energies in the next decade. Shale oil growth is a core strategic objective, expected to reach 250,000 b/d or 80% of total oil production by 2027.