Argentina is in the midst of an economic and market crisis. Its local currency has lost around 40 percent against the U.S. dollar so far this year. The central bank has raised interest rates to 60 percent to try to stem soaring inflation that is running at over 30 percent. The economy is shrinking and demand is dropping. Demand for natural gas is also falling. And Argentina’s state-run energy company YPF is responding to dropping demand by scaling back its natural gas output and halting production at some wells, Bloomberg reports , citing people with direct knowledge of the plans. Natural gas demand is down not only because of the economic hardships in Argentina. Local gas consumption is highly seasonal, with peak demand in the Argentinian winter and significantly lower consumption during the coming summer months. This seasonality in natural gas demand compares with constantly rising gas production from […]