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Mexican oil output is declining quicker than thought

Wednesday, September 6, 2017


Predictions of senior Mexican officials mean that both the International Energy Agency and OPEC will soon need to significantly revise their supply projections for Mexico downward, which may cause renewed bullishness in oil markets.

If 2018 projections for Mexico's oil production is reduced by 200,000 barrels per day, over the course of the full year 2018, this alone could reduce projections for global oil inventories for end-2018 by more than 70 million barrels.

Source: Seeking Alpha