Mexico’s Pemex drops K factors amid global sour crude declines

摘要

Houston—Mexico’s state-run oil company Pemex lowered its K factors for the April official selling price for its crude exports on Friday, moving the adjustment for Maya sales destined for the US Gulf Coast from minus $8.05/b to minus $10.05/b. Maya, Isthmus and Olmeca crude sales to the Americas region are all based on .65 WTI Houston, plus .35 ICE Brent, plus the K factor. The K factor adjusts the OSP formula output to reflect anticipated market conditions, among other factors.