Asian refineries have increased their purchases of Argentina’s crude oil because the war between Iran has disrupted supplies from the Middle East and has raised competition for other regions’ barrels.
Based on traders’ statements to Bloomberg, refiners in Japan, South Korea, and China have bought Argentina’s Madanito oil in recent weeks, and at least one cargo was loaded earlier this month.
Madanito is comparable to U.S. West Texas Intermediate crude; a grade whose demand has risen since the start of the war.
The volume of Argentine oil heading to Asia is small compared with other producing countries, but this interest nonetheless shows that refiners are seeking to diversify their sources and strengthen their energy security.


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