In 2025, the Argentinian crude oil market decreased by X% to $X, falling for the second year in a row after two years of growth. In general, consumption recorded a noticeable downturn. Crude oil consumption peaked at $X in 2013; however, from 2014 to 2025, consumption remained at a lower figure.
Crude Oil Production in Argentina
In value terms, crude oil production amounted to $X in 2025 estimated in export price. Over the period under review, production continues to indicate a slight reduction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2025, production remained at a lower figure.
Crude Oil Exports
Exports from Argentina
In 2025, shipments abroad of crude petroleum oil increased by X% to X tons, rising for the third year in a row after three years of decline. In general, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. The exports peaked in 2025 and are expected to retain growth in years to come.
In value terms, crude oil exports skyrocketed to $X in 2025. Overall, exports saw a measured increase. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2025 and are likely to see steady growth in the immediate term.
Exports by Country
The United States (X tons) was the main destination for crude oil exports from Argentina, with a X% share of total exports. Moreover, crude oil exports to the United States exceeded the volume sent to the second major destination, Brazil (X tons), twofold. Chile (X tons) ranked third in terms of total exports with an X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (X% per year) and Chile (X% per year).
In value terms, the United States ($X) remains the key foreign market for crude petroleum oil exports from Argentina, comprising X% of total exports. The second position in the ranking was held by Brazil ($X), with a X% share of total exports. It was followed by Chile, with a X% share.
From 2012 to 2023, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (X% per year) and Chile (X% per year).
Export Prices by Country
The average crude oil export price stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the export price continues to indicate a perceptible descent. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.
Average prices varied somewhat for the major overseas markets. In 2023, amid the top suppliers, the countries with the highest prices were Uruguay ($X per ton) and the United States ($X per ton), while the average price for exports to China ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced a decline.
Crude Oil Imports
Imports into Argentina
In 2025, imports of crude petroleum oil into Argentina surged to X kg, with an increase of X% on the previous year's figure. Overall, imports, however, showed a dramatic decrease. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2025, imports failed to regain momentum.
In value terms, crude oil imports skyrocketed to $X in 2025. In general, imports, however, showed a sharp shrinkage. Imports peaked at $X in 2017; however, from 2018 to 2025, imports remained at a lower figure.
Imports by Country
Chile (X kg) and Ecuador (X kg) were the main suppliers of crude oil imports to Argentina.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Chile (with a CAGR of X%).
In value terms, the largest crude oil suppliers to Argentina were Ecuador ($X) and Chile ($X).
Among the main suppliers, Chile, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review.
Import Prices by Country
The average crude oil import price stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period under review, the import price continues to indicate a buoyant increase. Over the period under review, average import prices attained the maximum at $X per ton in 2020; however, from 2021 to 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Ecuador ($X per ton), while the price for Chile totaled $X per ton.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the prices for the other major suppliers experienced a decline.
Frequently Asked Questions (FAQ) :
The countries with the highest volumes of consumption in 2024 were the United States, China and Russia, with a combined 47% share of global consumption.
The countries with the highest volumes of production in 2024 were the United States, Russia and Saudi Arabia, together comprising 41% of global production.
In value terms, Ecuador $126) and Chile $94) appeared to be the largest crude oil suppliers to Argentina.
In value terms, the United States remains the key foreign market for crude petroleum oil exports from Argentina, comprising 42% of total exports. The second position in the ranking was held by Brazil, with a 20% share of total exports. It was followed by Chile, with a 19% share.
In 2023, the average crude oil export price amounted to $564 per ton, with a decrease of -18.9% against the previous year. In general, the export price continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2021 when the average export price increased by 113% against the previous year. Over the period under review, the average export prices hit record highs at $744 per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.
In 2023, the average crude oil import price amounted to $2,444 per ton, increasing by 218% against the previous year. Overall, the import price posted buoyant growth. The import price peaked at $40,000 per ton in 2020; however, from 2021 to 2023, import prices failed to regain momentum.
This report provides a comprehensive view of the crude oil industry in Argentina, tracking demand, supply, and trade flows across the national value chain. It explains how demand across key channels and end-use segments shapes consumption patterns, while also mapping the role of input availability, production efficiency, and regulatory standards on supply.
Beyond headline metrics, the study benchmarks prices, margins, and trade routes so you can see where value is created and how it moves between domestic suppliers and international partners. The analysis is designed to support strategic planning, market entry, portfolio prioritization, and risk management in the crude oil landscape in Argentina.
Domestic demand is shaped by both household and industrial usage, with trade flows linking local supply to imports and exports.
Pricing dynamics reflect unit values, freight costs, exchange rates, and regulatory shifts that affect sourcing decisions.
Supply depends on input availability and production efficiency, creating a distinct national cost curve.
Market concentration varies by segment, creating different competitive landscapes and entry barriers.
The 2035 outlook highlights where capacity investment and demand growth are most aligned within the country.
Report scope
The report combines market sizing with trade intelligence and price analytics for Argentina. It covers both historical performance and the forward outlook to 2035, allowing you to compare cycles, structural shifts, and policy impacts.
Market size and growth in value and volume terms
Consumption structure by end-use segments
Production capacity, output, and cost dynamics
Trade flows, exporters, importers, and balances
Price benchmarks, unit values, and margin signals
Competitive context and market entry conditions
Product coverage
Crude Petroleum Oil
Country coverage
Argentina
Country profile and benchmarks
This report provides a consistent view of market size, trade balance, prices, and per-capita indicators for Argentina. The profile highlights demand structure and trade position, enabling benchmarking against regional and global peers.
Methodology
The analysis is built on a multi-source framework that combines official statistics, trade records, company disclosures, and expert validation. Data are standardized, reconciled, and cross-checked to ensure consistency across time series.
International trade data (exports, imports, and mirror statistics)
National production and consumption statistics
Company-level information from financial filings and public releases
Price series and unit value benchmarks
Analyst review, outlier checks, and time-series validation
All data are normalized to a common product definition and mapped to a consistent set of codes. This ensures that comparisons across time are aligned and actionable.
Forecasts to 2035
The forecast horizon extends to 2035 and is based on a structured model that links crude oil demand and supply to macroeconomic indicators, trade patterns, and sector-specific drivers. The model captures both cyclical and structural factors and reflects known policy and technology shifts in Argentina.
Historical baseline: 2012-2025
Forecast horizon: 2026-2035
Scenario-based sensitivity to income growth, substitution, and regulation
Capacity and investment outlook for major producing companies
Each projection is built from national historical patterns and the broader regional context, allowing the report to show where growth is concentrated and where risks are elevated.
Price analysis and trade dynamics
Prices are analyzed in detail, including export and import unit values, regional spreads, and changes in trade costs. The report highlights how seasonality, freight rates, exchange rates, and supply disruptions influence pricing and margins.
Price benchmarks by country and sub-region
Export and import unit value trends
Seasonality and calendar effects in trade flows
Price outlook to 2035 under baseline assumptions
Profiles of market participants
Key producers, exporters, and distributors are profiled with a focus on their operational scale, geographic footprint, product mix, and market positioning. This helps identify competitive pressure points, partnership opportunities, and routes to differentiation.
Business focus and production capabilities
Geographic reach and distribution networks
Cost structure and pricing strategy indicators
Compliance, certification, and sustainability context
How to use this report
Quantify domestic demand and identify the most attractive segments
Evaluate export opportunities and prioritize target destinations
Track price dynamics and protect margins
Benchmark performance against leading competitors
Build evidence-based forecasts for investment decisions
This report is designed for manufacturers, distributors, importers, wholesalers, investors, and advisors who need a clear, data-driven picture of crude oil dynamics in Argentina.
FAQ
What is included in the crude oil market in Argentina?
The market size aggregates consumption and trade data, presented in both value and volume terms.
How are the forecasts to 2035 built?
The projections combine historical trends with macroeconomic indicators, trade dynamics, and sector-specific drivers.
Does the report cover prices and margins?
Yes, it includes export and import unit values, regional spreads, and a pricing outlook to 2035.
Which benchmarks are included?
The report benchmarks market size, trade balance, prices, and per-capita indicators for Argentina.
Can this report support market entry decisions?
Yes, it highlights demand hotspots, trade routes, pricing trends, and competitive context.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
Market Volume, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Market Value: Historical Data (2012–2025) and Forecast (2026–2035)
Per Capita Consumption: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Physical Terms, By Country, 2012–2025
Imports, In Value Terms, By Country, 2012–2025
Import Prices, By Country, 2012–2025
Exports, In Physical Terms, By Country, 2012–2025
Exports, In Value Terms, By Country, 2012–2025
Export Prices, By Country, 2012–2025
LIST OF FIGURES
Market Volume, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Market Value: Historical Data (2012–2025) and Forecast (2026–2035)
Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Trade Balance, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Trade Balance, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Per Capita Consumption: Historical Data (2012–2025) and Forecast (2026–2035)
Market Volume Forecast to 2035
Market Value Forecast to 2035
Market Size and Growth, By Product
Average Per Capita Consumption, By Product
Exports and Growth, By Product
Export Prices and Growth, By Product
Production Volume and Growth
Exports and Growth
Export Prices and Growth
Market Size and Growth
Per Capita Consumption
Imports and Growth
Import Prices
Production, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Production, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Physical Terms, By Country, 2025
Imports, In Physical Terms, By Country, 2012–2025
Imports, In Value Terms, By Country, 2012–2025
Import Prices, By Country, 2012–2025
Exports, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Exports, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Exports, In Physical Terms, By Country, 2025
Exports, In Physical Terms, By Country, 2012–2025
Exports, In Value Terms, By Country, 2012–2025
Export Prices, By Country, 2012–2025
Mar 4, 2026
Argentina Expands RIGI Incentives for Vaca Muerta Shale Oil Development
Argentina's expanded RIGI program, offering decades of tax relief, is drawing applications from major energy companies to accelerate development of the vast Vaca Muerta shale oil formation.
Interoil Exits Argentina Conventional Oil & Gas, Sells Santa Cruz Assets
Interoil completes its strategic withdrawal from conventional oil and gas operations in Argentina, divesting Santa Cruz assets to focus capital on higher-return non-conventional opportunities.
Equinor Sells Vaca Muerta Assets to Vista Energy for $1.1 Billion
Equinor divests its non-operated Vaca Muerta shale assets to Vista Energy in a $1.1 billion transaction, part of a strategy to focus on core international production areas.
Equinor Sells Vaca Muerta Assets to Vista Energy in $1.1 Billion Deal
Equinor sells its non-operated interests in Argentina's Vaca Muerta basin to Vista Energy for $1.1 billion, focusing its international portfolio on core regions like Brazil and the U.S.
Equinor Sells Vaca Muerta Onshore Assets to Vista Energy for $1.1 Billion
Equinor completed the $1.1 billion sale of its onshore Vaca Muerta assets to Vista Energy, effective July 2025, as part of its strategy to streamline its international upstream portfolio and improve financial flexibility.
Shell is reportedly considering a full or partial exit from Argentina's massive Vaca Muerta shale play, a key part of its global portfolio, as part of a strategic refocus on core businesses.