Oil at US$ 67 in Argentina has all the Majors converging

Sunday, March 13th 2016 - 22:40 UTC

Full article 7 comments

By Nick Cunningham of Oilprice.com

Argentina offers one of the few places on earth where oil companies are not suffering from the full force of the collapse in prices. Argentina regulates oil prices, a policy originally intended to insulate the public from the whims of the market, protecting people from triple-digit crude prices. But with the crash in prices since mid-2014, the effect of the regulation has reversed: motorists are now effectively subsidizing the oil industry. Read full article

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chronic
The rig stampede south is deafening - NOT! lol.
Mar 14th, 2016 - 12:21 am - Link - Report abuse 0
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Lucifer
Are they arrogant enough to think they're smarter than the market?
Mar 14th, 2016 - 12:26 am - Link - Report abuse 0
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Skip
So the Argentinean public is effectively subsidising oil companies?

This is farcical after the song and dance of CFK on the evils of the market and capitalism.
Mar 14th, 2016 - 05:03 am - Link - Report abuse 0
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Klingon
Total bullshit. I spent $1200 pesos to fuel up this weekend and that won't last me a week.
The prick from YPF is getting fired and wants a 5 million dollar payout.
So the economy suffers to make the fat cat oil companies a profit.
Mar 14th, 2016 - 03:54 pm - Link - Report abuse 0
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El Diego
think about those poor oil workers who would lose their jobs and service companies like mine who would lose their revenues and profits. How could I possibly maintain my ranch in Patagonia and my polo horses in Buenos Aires without the help of the government.
Mar 16th, 2016 - 11:56 am - Link - Report abuse 0
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Lucifer
5. Dream on Argy.
Dream on.
Do you even have running water?
Mar 16th, 2016 - 09:53 pm - Link - Report abuse 0
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Skip
Happy for your government to subsidise your pretend lifestyle.

And for your fellow countrymen.

Thankfully it isn't mine doing it.
Mar 17th, 2016 - 02:44 am - Link - Report abuse 0
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