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Mexico’s oil exports decrease 36.5%

Mexico’s oil exports fell 36.5% in July at an annual rate, reaching 1,403.9 million dollars, informed Inegi.

This amount was made up of 1,186 million dollars of crude oil sales and 218 million dollars of exports of other petroleum products.

In that month, the average price of the Mexican crude oil export mix stood at 36.40 dollars per barrel, a figure higher by 3.50 dollars compared to the previous month, but lower by 21.38 dollars compared to July 2019.

Regarding the volume of crude oil exported, it stood at 1,051 million barrels per day in the reference month, a level lower than the 1,114 million barrels per day in June and the 1,079 million barrels per day in July 2019.

Mexico’s oil exports

The structure of the value of merchandise exports during the first seven months of 2020 was as follows: manufactured goods 88.7%, agricultural goods 5.3%, oil products 4.3% and non-oil extractive products 1.7%.

In turn, in the second quarter of 2020, oil exports contracted at a rate higher than 40% compared to the first quarter, mainly reflecting the lower average prices of the Mexican export mix, although the platform also showed a reduction.

 

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