Argentina Crude Petroleum Export Market -- HS Code 2709 Trade Data & Price Trend (Q1 2025)

Argentina Crude Petroleum Export (HS 2709) Key Takeaways

Argentina's Crude Petroleum exports under HS Code 2709 in Q1 2025 were dominated by bulk crude oil, with Chile as the key high-margin market, accounting for 42% of export value. The trade saw a sharp quarterly decline, dropping from $4.25B in January to $3.34B by March, reflecting volatile commodity markets. Exporters face limited pricing power due to concentrated bulk trade and reliance on global benchmarks. This analysis, covering 2025 Q1, is based on processed Customs data from the yTrade database.

Argentina Crude Petroleum Export (HS 2709) Background

What is HS Code 2709?

HS Code 2709 refers to petroleum oils and oils obtained from bituminous minerals, crude, a globally traded commodity essential for energy production and industrial applications. Its demand is driven by refining into fuels, lubricants, and petrochemical feedstocks, making it a cornerstone of global trade. The stability of this market is underpinned by consistent energy needs across transportation, manufacturing, and power generation sectors.

Current Context and Strategic Position

The Harmonized Tariff Schedule of the United States (2025) Revision 5 [USITC] highlights ongoing adjustments to duty classifications, which could indirectly influence Argentina's crude petroleum export dynamics. As a key supplier, Argentina's strategic position in hs code 2709 trade data is shaped by its resource endowment and access to global energy markets. With commodity price volatility and geopolitical factors affecting trade flows, monitoring crude petroleum exports from Argentina remains critical for stakeholders navigating this high-stakes market. Vigilance is warranted to anticipate shifts in demand and regulatory landscapes.

Argentina Crude Petroleum Export (HS 2709) Price Trend

Key Observations

The Argentina Crude Petroleum Export trend for Q1 2025 showed a clear decline in total value, starting at 4.25 billion USD in January and falling to 3.34 billion USD by March. This hs code 2709 value trend indicates a challenging quarter for export revenues.

Price and Volume Dynamics

The sequential monthly decrease in value—down to 3.73 billion USD in February and 3.34 billion USD in March—points to weakening export momentum as the quarter progressed. This decline may reflect broader market factors such as fluctuating global demand or domestic production adjustments, rather than direct policy impacts. While trade classification updates like the US Harmonized Tariff Schedule revision [USITC] could influence reporting, the trend is primarily driven by cyclical commodity market dynamics.

Argentina Crude Petroleum Export (HS 2709) HS Code Breakdown

Product Specialization and Concentration

According to yTrade data for 2025 Q1, Argentina's export of Crude Petroleum under HS Code 2709 is overwhelmingly dominated by a single sub-category, specifically oils; petroleum oils and oils obtained from bituminous minerals, crude, with a unit price of 1.28 USD per kilogram. This sub-category accounts for nearly all export value and weight, indicating a highly specialized market focused on bulk commodity trade. The minor sub-categories with higher unit prices of 4.99 and 2.47 USD per kilogram are isolated anomalies due to their negligible share, suggesting they represent rare or misclassified shipments not reflective of the main market.

Value-Chain Structure and Grade Analysis

The structure of Argentina's HS Code 2709 exports reveals a market centered on raw, unrefined crude oil, with the dominant sub-category representing standard bulk shipments. The anomalous minor entries, though higher-priced, are too insignificant to form distinct value-add stages or quality grades, reinforcing that this trade is primarily in fungible bulk commodities linked to global oil indices rather than differentiated products. This homogeneity implies that pricing is largely driven by volume and market benchmarks, not by product customization.

Strategic Implication and Pricing Power

For market players, the concentration in bulk crude oil under Argentina's HS Code 2709 export means limited pricing power for individual exporters, as prices are tied to volatile commodity markets. Strategic focus should remain on cost efficiency and volume optimization, with attention to global demand trends rather than product differentiation. Analyzing HS Code 2709 trade data confirms that success hinges on operational scale and market timing in this commodity-driven sector.

Table: Argentina HS Code 2709) Breakdown Details (Source: yTrade)

Check Detailed HS Code 2709 Breakdown

Argentina Crude Petroleum Export (HS 2709) Destination Countries

Geographic Concentration and Dominant Role

Chile is the dominant destination for Argentina's Crude Petroleum exports in Q1 2025, holding a 42.36% value share and a 38.49% weight share. The value share exceeds the weight share, indicating that Chile imports higher-grade or premium crude from Argentina. The frequency of shipments is also high at 34.22%, but it aligns with the value share, suggesting efficient, large-scale trade rather than fragmented shipments. This pattern points to Chile's demand for quality crude for its refining needs.

Destination Countries Clusters and Underlying Causes

The export partners can be grouped into three clusters based on trade profiles. First, the High-Yield Cluster includes Chile and Peru, where value shares surpass weight shares, reflecting demand for premium crude grades. Second, the Volume Cluster consists of the United States, UAE, Australia, and Brazil, with weight shares dominating value shares, indicating bulk imports for consumption or processing. Third, the Transactional Cluster features Netherlands and Brazil, showing high frequency shares relative to value, which may stem from their roles as trading hubs or re-export points for Crude Petroleum.

Forward Strategy and Supply Chain Implications

Argentina should prioritize securing high-margin markets like Chile by maintaining quality standards and potentially expanding premium crude offerings. For bulk buyers in the Volume Cluster, optimizing logistics and reducing transportation costs could enhance competitiveness. Monitoring trade data for HS Code 2709 will help adapt to shifts in global oil demand. The news context provided does not offer direct insights for this period.

Table: Argentina Crude Petroleum (HS 2709) Top Destination Countries (Source: yTrade)

Get Complete Destination Countries Profile

Action Plan for Crude Petroleum Market Operation and Expansion

• Prioritize shipments to high-margin destinations like Chile by analyzing hs code 2709 trade data for consistent premium pricing. This directly boosts profitability for the Argentina Crude Petroleum Export market by focusing on quality-driven buyers.
• Optimize logistics and negotiate long-term freight contracts for bulk-volume buyers like the U.S. and Brazil. This reduces transportation costs within the Crude Petroleum supply chain, protecting margins in a commodity-driven sector.
• Monitor global oil indices and geopolitical events weekly using hs code 2709 trade data to anticipate price swings. This allows for strategic timing of shipments to maximize revenue from the Argentina Crude Petroleum Export.
• Diversify the buyer base by targeting other markets showing demand for premium crude, using trade data to identify new opportunities. This mitigates over-reliance on a single region and strengthens the overall Crude Petroleum supply chain resilience.

Take Action Now —— Explore Argentina Crude Petroleum Export Data

Frequently Asked Questions

Q1. What is driving the recent changes in Argentina Crude Petroleum Export 2025 Q1?

Argentina's Crude Petroleum exports declined by 21.4% in value from January to March 2025, primarily due to weakening global demand and commodity market volatility, with no significant policy impacts noted.

Q2. Who are the main destination countries of Argentina Crude Petroleum (HS Code 2709) 2025 Q1?

Chile is the dominant buyer, accounting for 42.4% of export value, followed by Peru, the U.S., UAE, and Brazil, which form distinct trade clusters based on volume or premium pricing.

Q3. Why does the unit price differ across destination countries of Argentina Crude Petroleum Export?

Price differences stem from Chile and Peru importing higher-grade crude (reflected in value-to-weight ratios), while bulk buyers like the U.S. prioritize volume, aligning with the dominant unrefined commodity trade structure.

Q4. What should exporters in Argentina focus on in the current Crude Petroleum export market?

Exporters should prioritize cost efficiency and volume optimization for bulk buyers while maintaining quality standards for premium markets like Chile, given the commodity-driven, price-sensitive nature of the trade.

Q5. What does this Argentina Crude Petroleum export pattern mean for buyers in partner countries?

Chilean and Peruvian buyers benefit from consistent high-grade supply, while volume-focused buyers (e.g., U.S., UAE) gain from stable bulk shipments tied to global oil benchmarks.

Q6. How is Crude Petroleum typically used in this trade flow?

Argentina's exports under HS Code 2709 are primarily unrefined bulk crude oil, destined for refining or processing in partner countries, with no significant downstream differentiation.

Detailed Monthly Report

Argentina HS2709 Export Snapshot 2025 JAN

Argentina HS2709 Export Snapshot 2025 FEB