Mexico 2017 Budget Cuts to Push Pemex Output to 36-Year Low

Updated on
  • Government proposes reduction of 86 billion pesos from 2016
  • Pemex says more cuts could come from within the company

Petroleos Mexicanos’s oil and natural gas production is poised to fall to its lowest level since 1980 after lawmakers approve an 86-billion-peso ($4.6 billion) budget cut proposed by the Finance Ministry.

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