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Mexico’s fuel oil exports rise to five-month high in March

Oil

Mexico’s fuel oil exports increased by 23K b/d m-o-m and 26K b/d y-o-y to 198K b/d in March, rising for the third consecutive month to the highest level since October, according to data from Pemex. Crude oil exports declined by 20K b/d m-o-m to 905K b/d, with loadings to the Americas falling by 33K b/d m-o-m to 650K b/d after previously reaching the highest level since July 2021 in February. Crude oil shipments to Asia also declined by 11K b/d m-o-m to 160K b/d m-o-m, however exports to Europe rose by 24K b/d m-o-m to 95K b/d, recovering after falling to the lowest level since June 2010 during the previous month. Imports of gasoline increased by 80K b/d m-o-m and 94K b/d y-o-y to 334K b/d.