Tag Archives: Mexico

The novel coronavirus drastically changed the consumption patterns of hydrocarbon products across the globe.

The news just gets worse for some emerging markets, with the collapse in oil prices adding further pressure to currencies and the fiscal situation of countries like Mexico, Brazil, and Russia. Of the commodity-producing emerging market countries, the one that is worrying analysts the most is Mexico. Emerging markets outside …

Pressure mounted on Mexico on Saturday to agree on cuts to oil output that would set the seal on the biggest production deal in the industry’s history. The OPEC+ alliance led by Saudi Arabia and Russia was said to have made some progress on Saturday as negotiations with Mexico continued, …

On Thursday, Riyadh, Moscow and other OPEC+ members and partners tentatively agreed to cut crude output by some 10 million barrels per day (bpd) over the next two months, with the deal requiring each country to cut about 23 percent of its output. Saudi state-owned oil giant Saudi Aramco has …

The Kremlin said on Saturday it hoped the world’s largest oil producers would come to a consensus on output cuts and that negotiators were still trying to persuade Mexico to take part in a deal, TASS news agency reported. OPEC, led by Saudi Arabia, and its allies, led by Russia, …

Mexico said it has reached an agreement with OPEC+ for deep oil-production cuts, after an intervention from U.S. President Donald Trump resolved an overnight impasse.

Major oil producers except Mexico agreed to cut output in May and June by 10 million barrels per day, OPEC said on Friday, after marathon talks to counter a collapse in prices. The videoconference led by the Organization of the Petroleum Exporting Countries has been seen as the best chance …

Mexico’s government hedged oil exports for this year at an average $49 a barrel. locking in protection against low crude prices.

The sale would include all available unleased areas in federal waters of the Gulf of Mexico that are not subject to Congressional moratorium.

Mexico is kicking off the construction of its $7.7 billion (150 billion peso) oil refinery.