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 …
Read More »Pressure Mounts on Mexico to Agree Oil Cut Deal
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, …
Read More »Saudi Arabia Delays Release of Oil Price Data Again as Mexico Refuses to Yield on Output Cuts
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 …
Read More »Efforts to Persuade Mexico to Join Oil Cuts Deal Persist
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, …
Read More »Mexico Accepts Oil Output Deal, Says Trump Resolved Its Impasse with OPEC+
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.
Read More »OPEC Says Top Oil Producers Except Mexico Agree to Output Cuts
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 …
Read More »Mexico Hedges 2020 Crude Oil Exports at $49 Per Barrel
Mexico’s government hedged oil exports for this year at an average $49 a barrel. locking in protection against low crude prices.
Read More »U.S. to Offer 78 Million Gulf of Mexico Acres in 2020 Lease Sale
The sale would include all available unleased areas in federal waters of the Gulf of Mexico that are not subject to Congressional moratorium.
Read More »Mexico Kicks Off $7.7 Billion Refinery Construction
Mexico is kicking off the construction of its $7.7 billion (150 billion peso) oil refinery.
Read More »Shell`s New Deepwater Discovery in Gulf of Mexico
This discovery in a Shell heartland adds to the company’s Paleogene exploration success in the Perdido area.
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