In July, Mexico’s crude oil output hit a record low at 1.605 million bpd with both productions from state-owned Petroleos Mexicanos (Pemex) and private producers posted slightly down figures.
Pemex produced 1.548 million bpd while private oil companies produced the rest, but both recorded a slight fall from June level.
For Pemex, the output in July was the lowest since November 1979. The firm produced around 96% of national output. Private operators contributed about 4% since the government has not allowed foreign and private oil firms to expand their presence in the country.
Year-to-date, the country’s oil output has slumped by close to 7%, according to oil regulator CNH.
