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Mexico’s Oil Production Continues to Collapse
Seeking Alpha
Gregor Macdonald
In May, oil production from Mexico’s (previously) largest oil field Cantarell slipped below 700 kb/day. While the death of Cantarell has been much discussed since it peaked five years ago at 2.1 Mb/day, what’s less recognized is that the toppling of Cantarell has absolutely shattered Mexico’s effort to halt the decline of oil exports.
The problem is simple. With Mexican domestic consumption of oil rising or flat, and overall production in serious decline, exports have fallen even more dramatically. And given that Mexico will one day not be able to export oil at all, one wonders they should take…
26Jun2009 | The Real Deal | 0 comments | Continued
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