Oil Price War Threatens Argentina Shale Hopes

摘要

Even before the Saudi-Russian oil price war began, Argentina's oil sector was struggling mightily due to price and currency controls imposed by the government in the midst of an economic crisis. The latest price crash only exacerbates the industry's woes and will likely dash hopes for the swift development of Argentina's Vaca Muerta Shale. Argentina, which has been edging toward a messy default since a currency collapse last year, had been counting on rising exports from Vaca Muerta to provide dollars to pay the country's large foreign debt and help invigorate the economy. Yet the recent plunge in oil prices has now made that scenario extremely unlikely.