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AMERICAS OIL: Will Argentina's Oil Industry Benefit from Trump?

AMERICAS OIL
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Will Argentina's Oil Industry Benefit from Trump?

  • Irina Slav writes on oilprice.com that in 2024, Argentina generated an energy trade surplus that was the highest in 18 years, with exports gaining 22.3% and imports slumping by 49.4%.
  • Argentine crude is no alternative to Canadian crude, which the US does not need because, like US shale, the oil extracted from the Vaca Muerta is light and sweet.
  • The Trump presidency could prove a net positive for Argentina’s oil and gas industry, even with an initial decline in international prices.
  • Oil production in the Vaca Muerta play has quadrupled over the past five years, from less than 90,000 b/d to almost 400,000 b/d as of the third quarter of 2024—a figure representing a 35% annual increase. Expectations are that Vaca Muerta’s crude oil output will hit 1mb/d by the end of the decade.
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Will Argentina's Oil Industry Benefit from Trump?

  • Irina Slav writes on oilprice.com that in 2024, Argentina generated an energy trade surplus that was the highest in 18 years, with exports gaining 22.3% and imports slumping by 49.4%.
  • Argentine crude is no alternative to Canadian crude, which the US does not need because, like US shale, the oil extracted from the Vaca Muerta is light and sweet.
  • The Trump presidency could prove a net positive for Argentina’s oil and gas industry, even with an initial decline in international prices.
  • Oil production in the Vaca Muerta play has quadrupled over the past five years, from less than 90,000 b/d to almost 400,000 b/d as of the third quarter of 2024—a figure representing a 35% annual increase. Expectations are that Vaca Muerta’s crude oil output will hit 1mb/d by the end of the decade.