Hurricane disruption compounds Mexican production decline

摘要

Mexican crude output fell sharply in the third quarter compared with a year earlier, data from state-owned oil firm Pemex show. Production was curtailed when Pemex shut in wells to offset the loss of demand in September after Hurricanes Gustav and Ike forced US Gulf coast refiners to shut down. This cut into already rapidly declining output from the mature Cantarell field, pushing exports lower. Non-Opec production totals have been further dented for the year (AGM, 25 August, p3).