Mexico: Crude oil production in November was the lowest so far this year

In November, the hydrocarbon production of Petróleos Mexicanos (Pemex), not including its commercial partners, averaged one million 656 thousand barrels per day, which implied a decrease of 9.8 percent when compared to what was reported in the same month of the year. last, which was one million 837 thousand barrels per day.

The latest update to the company’s oil statistics indicates that production reported in November was the lowest so far this year.

According to Pemex, when including its private partners, production averaged one million 822 thousand barrels per day, which meant a reduction of 10 percent when compared to the 2 million 25 thousand barrels reported in November of the previous year.

As in the previous case, production with partners is the lowest for a single month throughout 2024.

The data released by Pemex results from the sum of the production of liquid hydrocarbons from crude oil, condensates and liquids from gas.

Compared to the immediately previous month, that is, October, production without trading partners decreased 2.7 percent, while including its partners, the decrease was 1.8 percent.

In the accumulated period from January to November, the production of Pemex alone averaged one million 754 thousand barrels per day, which implies a drop of 5.5 percent when compared to what was reported in the same period last year, which was one million 857 thousand. barrels daily.

When including private partners, production in the first 11 months of the year averaged one million 922 thousand barrels per day, while in the same period of the previous year, it was 2 million 42 thousand barrels per day, which represents a reduction of 5.8 percent. .

Pemex statistics indicate that in November, the company obtained income of 39 thousand 210 million pesos from the sale of high and low octane fuels (Magna and Premium), which implied an increase of 10.2 percent compared to 35 thousand 557 million pesos reported during the same month of the previous year.

However, from January to November, the oil company has obtained income from the sale of automotive fuels that totals 439 thousand 509 million pesos, which implies a decrease of 3.1 percent when compared to the 453 thousand 670 million reported in the same period of the previous year.

In a disaggregated manner, sales of low-octane gasoline, better known as Magna, during November reached 29,573 million pesos, an amount 5 percent higher than what was reported in the eleventh month of 2023, which was 28,143 million. of pesos.

For its part, sales of high-octane gasoline (or Premium fuel) totaled 9,636 million pesos, an amount 30 percent higher when compared to the 7,414 million reported in the same month of 2023.

In the accumulated period from January to November, sales of Magna gasoline totaled 339,488 million pesos and those of Premium were 100,021 million.

In the first case, the figure is 6.4 percent lower than what was reported the previous year and in the second there is an increase of 10.1 percent.