Mexico's crude output down 6.2% in June

Mexico pumped 1.57Mb/d (million barrels a day) of crude oil in June, 6.2% less than the same month last year, according to data released by regulator CNH.

Including condensates, Mexico produced 1.84Mb/d of liquid hydrocarbons last month, also down 6.2% from June 2023.

National oil company Pemex accounted for 95% of production, pumping 1.75Mb/d. Other operators, who were briefly allowed into the Mexican upstream segment under a previous administration, produced the remaining 95,000b/d, or 10,000b/d more than in May.

In recent years Mexico has struggled to stabilize its production of oil and gas. Under the government of President Andrés Manuel López Obrador, bid rounds for international oil companies have been cancelled and Pemex has prioritized investments in refining.

Natural gas production fell 12.2% year-on-year in June to 3.82Bf3/d (billion cubic feet a day), CNH said.

Mexico’s production of liquid hydrocarbons peaked in 2004 at 3.38Mb/d. Natural gas production peaked in 2009 at 6.53Bf3/d.