Mexico’s crude oil exports decline in September
Mexican crude oil exports decreased by 170K b/d m-o-m to 1.02M b/d in September, falling to the lowest level since October 2019, according to data from Pemex. This an increase of 30K b/d y-o-y. Loadings to the Americas accounted for the majority of this decline, falling by 190K b/d m-o-m to 540K b/d, whereas exports to Asia edged up by 20K b/d m-o-m to 290K b/d, the highest level since April.
Fuel oil exports rose by 34K b/d m-o-m and 110K b/d y-o-y to 178K b/d, increasing for the sixth consecutive month to the highest level since February 2017. Gasoline imports decreased by 34K b/d m-o-m and 96K b/d y-o-y to 365K b/d, with diesel imports also falling by 31K b/d m-o-m and 80K b/d y-o-y to 81K b/d.