The oil company YPF reported a net profit of approximately 657 million dollars in the first quarter of 2024, marking a 93% increase from the previous year. Despite the economic downturn in Argentina, which led to a slight decline in sales, YPF’s adjusted profitability and revenues showed growth during this period.
The rise in fuel prices, decrease in imports, and improved crude oil prices locally contributed to YPF’s positive financial results. However, local fuel demand decreased by 11% as sales at service stations and diesel consumption took a hit. Despite these challenges, YPF maintained its oil production levels and saw growth in shale oil production.
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