Quote from: K-Dog on Jul 15, 2024, 03:29 PMArgentina is not a politically or economically sound place. It would be foolish to put money there.
Yup. Especially considering the Kuwaitis just found another 2B barrels of oil & 5T cu ft of NG offshore which they intend on putting into production ASAP. This should increase their contribution to the coming OIL GLUT predicted by the IEA and BP almost doubling it from 2.4M bpd to 4M bpd. Highly doubtful the Argentinians can extract oil from their rocks as cheaply as the Kuwaitis can pump it up from under the Persian Gulf. Add in a likely Recession setting in and we could see Oil drop to $50/bl next year. The only good investment in Argentina is CDS contracts betting they default again on their loans from the IMF.
https://oilprice.com/Energy/Crude-Oil/Kuwait-Announces-Massive-Offshore-Oil-and-Gas-Discovery.html
RE