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OIL: Mexico’s Crude Exports Hit 4-Month Low: Bloomberg

OIL

Exports of Mexican crude fell to a four-month low in August as Pemex accelerated domestic refining operations, according to Bloomberg.

  • Exports totalled 806k b/d, down 8.1% on the month and 29% on the year.
  • Shipments of Maya crude fell to a four-month low of 393k b/d.
  • Exports to the US were up 39% on the month as US refiners boosted oil processing in August during peak summer driving season.
  • Valero was the top buyer in August taking 170k b/d, down 10% on the month. This was followed by Pemex’s own Deer Park refinery located in Texas, which received 90k b/d.
  • Repsol’s buying of Mexican crude was down 29% on the month to 81k b/d.
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