The new international context drives foreign sales of energy and agriculture, with projections that set an all-time record.
Economist Fernando Marull detailed the direct impact of the rise in crude oil on energy exports. As he explained, the increase in the barrel from USD 70 to USD 100 implies an increase of close to USD 4.5 billion in foreign oil sales, consolidating the sector as one of the main drivers of foreign exchange income
The rise in the price of oil in the international market, in the midst of tension in the Middle East and the closure of the Strait of Hormuz, is creating an unprecedented opportunity for the Argentine economy.
With a barrel of crude oil around USD 100 and prospects of remaining at high levels over the coming months, the country is heading for a strong increase in its exports.
Projections indicate that foreign oil sales could rise from USD 12.5 billion to approximately USD 17 billion, representing a significant jump driven by the new global context.
This growth in the energy sector is complemented by an improvement in agricultural exports, which are also benefiting from the sustained increase in international prices, with an additional contribution estimated at USD 1 billion.
The result of this scenario is overwhelming, since Argentina could exceed USD 100 billion in total exports for the first time in its history. This is an objective that has long been mentioned in the past, but it has never been achieved.
This momentum not only strengthens the country's export profile, but it also positions Argentina in a strategic place in the international energy market, at a time when global supply is facing restrictions and demand remains firm.
From the energy sector, YPF's president, Horacio Marín, highlighted the company's approach to the new context. “We are not going to speculate on the international rise in the price of oil because we make a commitment to consumers that naphtha will increase when the price of a barrel of oil increases and will fall when the price of oil falls in the international market,” he said
.In addition, he stressed that the current price level responds to a particular situation in the global market and will not necessarily be sustained over time: “You cannot sustain a world with a 15% restriction on oil and when everything normalizes, prices will return to logical values.”
With favorable international prices and expanding key sectors, Argentina is faced with an historic opportunity to consolidate its export growth and achieve a record that no one could achieve before.
