Mexican Refining Slips May

In May, crude processing at Pemex’s six domestic refineries fell 4% compared to the same month last year according to official figures. During the month, the state-run facilities only processed about 759,000 bpd - less than half their 1.6 million bpd capacity.

• At nearly 274,000 bpd, fuel oil volumes were above gasoline and diesel output, which during the month reached about 262,000 bpd and 126,000 bpd, respectively.
• Mexican President Manuel Lopez Obrador has said he wants Pemex to process at least 1 million bpd of crude oil to allow the country to slash fuel imports which mainly come from US based refiners.
• Kpler figures show Mexican crude exports hit a 4.5 year high in June of 1.29mn bpd because of domestic refining underperformance: https://marketnews.com/mexican-crude-exports-hit-4-5-year-high-kpler