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Asian oil refineries are being affected by the Iranian war, as they have increased their purchases of Argentine oil as an alternative that avoids conflict zones, especially by importing "Midanito" crude at discounted prices ranging between one to two dollars per barrel compared to American crude. Japanese, Korean, and Chinese companies turned to buying this oil from August to October 2026, benefiting from the advantage of a direct maritime route along the southern edge of South America without passing through strategic straits. Although export volumes are relatively small, the rising demand for alternatives and advanced extraction techniques have pushed Argentina's production to a record high of 916.2 thousand barrels per day in July. This is supported by the expansion of export infrastructure through pipeline projects and preparations to supply the Asian market with larger quantities as infrastructure improves, thus enhancing energy security and enabling diversification of supply sources amid regional conflicts.
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