This due to decreased production in their monster Cantrell field. They say it could be for up to two years, but given that Cantrell is in decline, it’s difficult to see how production will ever return to what it was, something which will have profound impact upon both the US and Mexico.
Politics in the Zeros
"A republic, if you can keep it." Vegas, taxes.
Politics in the Zeros
"A republic, if you can keep it." Vegas, taxes.
Mexico has steadily reduced its exports to the U.S. over the past few months, falling from our second-largest source of oil last year to a distant third (behind Canada and Saudi Arabia) this year. See http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/company_level_imports/current/import.html.