Mexico | Pemex’s crude oil production continues to drop

Summary

The production of liquid hydrocarbons in the fourth quarter of 2023 showed a quarterly decrement of 15.3 thousand barrels a day due to a reduction of 21.7 thousand barrels a day of Pemex’s crude oil production despite an increase of 7.0 thousand barrels a day of condensates.

Key points

• Key points:
• The production of new fields in 2023 averaged around 180.5 thousand additional barrels a day to the production registered during 2022.
• Lower prices affected Pemex’s export and domestic sales, which posted an annual decrease of 14.3% and 17.6% in the fourth quarter of 2023, respectively.

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