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Mexico's Pemex Over Producing Fuel Oil September

REFINING

Mexico’s Pemex refined 767,994 bpd of crude in September, falling 3.6% from August and down 1.5% y/y.

  • Pemex produced 226,100 bpd of gasoline and 99,700 bpd of diesel - down 6.5% and 35% respectively from August.
  • High sulphur fuel oil production in September was 281,200 bpd, up 22.5% from the previous month.
  • Pemex is struggling to process the heavy crude that it produces. Mexican President Andres Manuel Lopez Obrador had promised to create fuel sovereignty for the country to no longer rely on US imports but is still well shy of his goal.

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