Argentina and expensive oil: a net exporter thanks to Vaca Muerta, but with domestic costs
The oil surge, with North Sea Dated averaging US$116.89 per barrel in September and around US$134 when the IEA's October report was prepared, is a global economic shock. Argentina, formerly an energy importer, is now a net exporter thanks to Vaca Muerta: its trade balance in the segment went from imports of about US$11 billion a year to a surplus of between US$6,663 and 7,815 million last year, heading toward US$10 billion this year. The benefit comes alongside costlier fuels and a declining manufacturing industry.
In 45 seconds
- North Sea Dated averaged US$116.89 per barrel in September and stood around US$134 when the IEA's October report was prepared.
- The IEA projects global oil demand will fall by 2.6 million barrels per day on average during 2026.
- Argentina went from importing about US$11 billion a year in fuels to a trade surplus in the segment of between US$6,663 and 7,815 million last year.
Read the full story at Clarin.com
IASummary generated by artificial intelligence from a story by Clarin.com. It may contain errors: the original source prevails.
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