Mexican crude oil exports to Asia up in April
Mexican crude oil exports grew to 1.18M b/d in April, edging up by 35K b/d m-o-m, according to data from Pemex. Exports to Asia shot up to 440K b/d, a growth of 280K b/d m-o-m, reaching the highest level since February 2019. Exports to the Americas however declined by 170K b/d m-o-m to 590K b/d, with exports to Europe falling by 80K b/d m-o-m to 150K b/d.
Mexican refineries processed 670K b/d in April, an increase of 70K b/d m-o-m. Product sales slumped to 870K b/d, decreasing by 370K b/d m-o-m and 530K b/d y-o-y to the lowest level since at least 1990, data from the Secretariat of Energy shows.