The Mexican oil mix reached a price of 54.51 dollars per barrel This Thursday, October 16, according to updated information daily on the website of Mexican Petroleum (Pemex).
The price of the Mexican crude oil export mix, published on the Pemex portal, is an estimate provided exclusively for informational purposes. The price is estimated using the price formulas by geographic region with the daily close of the corresponding quotes.
Information from the state oil company’s website indicates that in 2020 Production stood at one million 705 thousand barrels per day annual average, exceeding the average annual production of 2019 by four thousand barrels per day and thus breaking a 15-year streak of decline in production.
Crude oil is classified depending on the API (American Petroleum Institute) degrees, considering values less than 30 as heavy and values above 30 as light. In Mexico it is divided into three types depending on their density: Isthmus, Olmec and Maya.
According to Pemex indicators, of oil production in the country, the 54% is considered heavy crude oil (Maya)he 33% as light (Isthmus) and the The remaining 12% corresponds to super light crude oil (Olmeca).
It is considered that the Mayan mix is the most competitive of the Mexican ones as it is the one with the greatest export, in addition to being used as a substitute mixture for the other two. Because it is a “heavy” crude oil has a lower performance in the production of gasoline and dieselHowever, thanks to this characteristic, it is the main source of energy for the production of energy for domestic use.
The Isthmusbeing a light crude oil, can give higher performance in gasoline production and middle distillates (petroleum products obtained in the “middle” boiling range, between 180°C and 360°C).
The Olmec mix It is considered “extra light”, a characteristic that makes it useful for the production of lubricants and petrochemicals.
During 2023, Pemex experienced a increase in its hydrocarbon productionreaching an annual average of 1,855 million barrels of oil per day. This volume represents an increase of 5.1%, equivalent to 91,000 barrels per day, compared to the 1,764 million barrels it produced throughout 2022.
According to the figures presented by the state’s productive company in December, they indicate that during 2023, production never fell below 1.8 million barrels per day. In the last month of the year, the daily production was 1,826 million barrelson average.
The increase in production is mainly attributed to the commissioning of wells in new oil fields, especially Quesqui and Tupilco. In January 2023, the state producer managed to surpass the 1.8 million barrels per day mark, reaching its maximum extraction capacity of the six-year period, a level that it maintained throughout the rest of the year.
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