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Mexico's crude exports in 2Q15 fall to multi-decade low

Oil

Mexico's crude oil exports in 2Q15 fell by 199K b/d q-o-q and 15K b/d y-o-y to average a multi-decade low of 1.07M b/d, data from state oil firm Pemex shows. This owed much to a slump in exports to Americas, which dropped by 37K b/d q-o-q and 56K b/d y-o-y to 702K b/d. Exports to Europe also declined over both periods to 208K b/d, the lowest since 3Q14. Exports to Asia were up by 62K b/d y-o-y at 156K b/d but slipped by 67K b/d below 1Q15's peak.