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Catriel was named after Cacique Catriel, a Native American who according to several stories participated in the defence of Argentine government interests against aborigines.
The town has a dry and temperate climate, with hot summers and winters which barely see snow. A characteristic dry strong wind is also common.
The main economic activity in and around the town is oil extraction, which started in 1959 and made the city grow fast, as state owned YPF set extraction points nearby. However, nowadays the main oil company in the city is Petrobras, which has made several investments in the city.