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Mexico’s Crude Output, Exports, Rise in October
Mexico’s crude output in October stood at 1.902M b/d, up 9.9% or 172K b/d from September’s low total, but down 9.6% or 201K b/d y-o-y, according to official data released by state-owned petroleum company Pemex. Mexico’s crude production year to date is about 210K b/d lower than the same period last year.
Mexican crude exports rose by 15.8% or 183K b/d m-o-m and 2.3% or 30K b/d y-o-y to 1.342M b/d, the highest since September 2016, with shipments to Europe and Asia rising by 12K b/d and 65K b/d m-o-m to a combined 743K b/d, the highest since October 2016.
Meanwhile, Mexican product imports were down 12K b/d m-o-m in October but still 74K b/d higher y-o-y, at 827K b/d.