May 19, 2020 / 11:42 AM / 2 months ago

Argentina sets local crude oil reference price at $45 per barrel

BUENOS AIRES, May 19 (Reuters) - Argentina’s government set the local crude oil reference price at $45 per barrel on Tuesday, in a bid to protect the country’s hard-hit sector from the impact of the coronavirus pandemic and low global prices.

Reuters reported in April that Argentina was planning to set a higher local oil barrel price after oil demand collapsed around the world due to the pandemic, and domestically due to a nationwide lockdown imposed in mid-March. (Reporting by Adam Jourdan and Hernan Nessi)

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