For the first time in 36 years Pemex is importing more than it exports

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Pemex is importing more oil than it exports for the first time in 36 years, reflecting a 15-year decline in production despite substantial government support. This shift poses challenges for Mexico’s economic growth amid the energy sector’s struggles.

The imbalance comes after 15 years of falling production and in the midst of billions of dollars of support from the federal government, which is a factor in stalling economic growth. The post For the first time in 36 years Pemex is importing more than it exports appeared first on Mexico News Daily