Argentine President Javier Milei is seeking to extinguish decades of government intervention in the nation’s oil industry by unshackling crude exports and leaving local fuel prices at the whim of market forces.
Milei included such measures in sweeping legislation he sent to congress on Wednesday, the latest move since the libertarian president took office on Dec. 10 with a mission to deregulate Argentina’s tightly controlled economy. While his bill has far-reaching consequences for a slew of industries, it features a chapter specifically addressing oil.