5 Reasons Why Mexico’s Oil Industry Is Destined For Disaster

OIL PRICE | Mexico has somewhat inadvertently found itself at the heart of the oil industry’s most burning issues of 2020 – just when it seemed that Russia, Saudi Arabia, the United States and a whole array of prominent oil-producing countries reached an agreement on future OPEC+ production cuts, the Latin American nation rejected the proposed quota of a 400kbpd output curtailment and eventually accepted a 100kbpd cut after prolonged talks and an intervention by U.S. President Trump. Yet as long as PEMEX keeps on piling up debt and oil prices continue their downward movement the OPEC+ agreement notwithstanding, shouldn’t Mexico chart a more pragmatic course and cut output wherever possible? Below we will identify 5 reasons why Mexico’s oil industry is destined to suffer. 

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