Oil workers in Argentina began a 48-h strike on June 27, seeking a wage increase 40% but signaling that a 30% raise would be adequate to keep to strike from being extended indefinitely. Anywhere else in the world, such an increase might be a staggering request, but in Argentina, considering that inflation ran at 42% in May, it seems quite reasonable. According to the Argentine Oil and Gas Institute, the strike would impact 99% of the country's 530K-b/d of crude production, and 88% of its 123MM m~3 of natural gas output.
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