Commodity Market Report
Argentina product markets long-term outlook H1 2020
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Report summary
Even before the Covid-19 pandemic, Argentina's refining sector was struggling with a utilisation rate below historical levels due to an ongoing economic recession. There are 11 refineries in the country, with a total combined capacity of 649,000 b/d. By 2019, the national crude intake was close to 470,000 b/d, with a 73% utilisation rate. By 2020, we forecast the drop in utilisation to reach 65% due to record-low levels of demand. As consumption recovers slowly in the medium term, we forecast crude capacity utilisation to again reach 73% by 2030.
Table of contents
- Economic recession continues to curtail oil consumption in Argentina
- US crude imports to replace West African crudes
- Gasoline imports fall throughout the forecast period
Tables and charts
This report includes 3 images and tables including:
- Product demand
- Crude Slate - Origin
- Product balances - all supply versus demand
What's included
This report contains:
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