Argentina is considering setting a minimum oil reference price at $45/b for local production, as much as $9/b less than some producers had requested, in a bid to revive output and limit a surge of imported crude and petroleum products, according to a draft copy of the proposal. Receive daily email alerts, subscriber notes & personalize your experience. Register Now If the proposal is approved as is, the price of Medanito, a light crude from the western basin of Neuquen, the country’s most-productive, would be used as the reference price for refiners to buy from producers. The price would take effect at $45/b retroactively from April 1 and remain in effect until December 31 according to the preliminary draft of […]