Argentina enforces fuel price caps despite warnings of oil production slowdown

摘要

Buenos Aires-Argentina imposed a 90-day freeze on diesel and gasoline prices Friday, driving down domestic crude prices by around 30%, even after oil companies warned the measure is bound to slow investment and production growth, including in the giant Vaca Muerta shale play. The price cap takes effect immediately, according to a decree published in the Official Bulletin, the newspaper of record. The downstream sector must keep oil product prices at the same levels as August 9 in all outlets, including retail and wholesale, through November 15, the decree states.