Pemex bleeds US $2.6B in Q1 despite government bailout and rising oil prices

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Pemex reported a significant loss of $2.6 billion in Q1 as rising oil prices failed to mitigate a near-40% decline in its exported crude barrels. This highlights the ongoing challenges faced by the Mexican state oil company.

A 5.2% increase in the price of the Mexican crude mix (mezcla mexicana) that Pemex exports could not offset the near-40% decline in barrels shipped abroad. The post Pemex bleeds US $2.6B in Q1 despite government bailout and rising oil prices appeared first on Mexico News Daily