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Pemex Oil Production Falls as Cantarell Hits Record Low

Petroleos Mexicanos, the world’s third-largest oil producer, said crude production fell for a fifth month after its aging Cantarell field posted the lowest output in at least 22 years.

Daily production from the state-owned company, known as Pemex, dropped 1 percent to 2.546 million barrels this month, from 2.573 million a year earlier, according to a preliminary production report from the Mexico City-based company today. Cantarell’s output fell 14 percent from April 2011 to 400,000 barrels a day, the lowest since at least 1990, when the Energy Ministry started to publish Pemex’s production.