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Mexico's crude exports rebound while gasoline and diesel imports surge

Oil

Mexico's crude oil exports in July rebounded by 139K b/d m-o-m to average 1.2M b/d, data from state-oil firm Pemex shows. Exports to the Americas jumped by over 100K b/d from the previous month to a year-to-date high of 791K b/d. Exports to Europe climbed by 59K b/d m-o-m to a four-month high of 258K b/d. Loadings to Asia however, dipped by 26K b/d from June to a three-month low of 137K b/d. Meanwhile, following newswire reports of surging product import purchases due to i) refinery maintenance, ii) technical issues and iii) gasoline siphoning, Mexico's combined imports of gasoline and diesel in July rose to a 32-month high of 658K b/d.