Mexico Looks to Suspend Crude Export Cuts as Prices Rally
- Nation most likely to keep 1 million barrels oil per day level
- AMLO had pledged to slash exports in bid for self-sufficiency
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Mexico will most likely keep its crude oil exports at about 1 million barrels a day to take advantage of the recent price spike, temporarily delaying President Andres Manuel Lopez Obrador’s plan to halve them as part of his energy self-sufficiency goal, according to a person with direct knowledge of the situation.
The government is reviewing how to use the windfall from a rally in international oil prices to subsidize rising gasoline costs for Mexicans and will probably delay its pledge to drastically reduce shipments abroad, said the person, who asked not to be named because the plan isn’t public.