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    Mexican oil production falls to lowest level in two years

    News // July 2, 2013

    Nor-Ocean Offshore reports that crude output at state oil monopoly Pemex, which President Enrique Pena Nieto has pledged to reform in the coming months, fell to 2.51 million barrels per day in May, its lowest level since September 2011, according to Reuters.

    Oil exports dropped to 1.03 million bpd, the lowest level since the company began publishing monthly export figures in 1990.

    Mexico, the world's seventh largest oil producer, has seen output drop steadily from a peak of 3.4 million bpd in 2004.

     

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