Mexico holds door open to cut in oil output

Mexico has held the door open to cutting production at state energy group Pemex after oil prices crashed this week in what would be a major policy U-turn for the government of Andrés Manuel López Obrador, which has made boosting the company’s declining output a core objective.

“All producing countries in the latest Opec-Non-Opec meeting expressed our willingness to adjust by a percentage to avoid overproduction,” Rocío Nahle, energy secretary, tweeted, the Financial Times reported.