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Mexico’s Crude Output Falls

Oil

Mexico’s crude oil output in April decreased by 6K b/d m-o-m and 165K b/d y-o-y to a multi-decade low of 2.01M b/d, data from state-oil firm Pemex shows. Crude exports increased by 16K b/d m-o-m but were down by 64K b/d y-o-y to 1.02M b/d. In the year-to-date, Mexico’s crude output has averaged 2.02M b/d, down by 200K b/d y-o-y, while crude exports have averaged 1.08M b/d, 46K b/d lower than they were during the same period in 2016.