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Mexico’s Crude Exports Fall in Jan

OIL

Mexican crude exports fell marginally in January as bad weather hampered ship loadings and Pemex kept volumes to boost domestic refinery runs, according to Bloomberg.

  • Exports were 973k b/d in January, down 13% on the month and 6.4% on the year.
  • Mexico’s oil exporting terminals were closed for at least five days in January due to bad weather.
  • Exports to the US are down 29% on the month to 515k b/d, the lowest since Nov. 2021.
  • Valero – often the largest buyer of Mexican crude – imported 150k b/d in January, down 36% on the month.

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