Overview
- Crude exports averaged 556,978 barrels per day in the third quarter, the lowest level in 25 years, while fuel imports fell to 545,714 barrels per day near 2020 lows.
- Pemex produced about 1.65 million barrels per day of liquid hydrocarbons in the third quarter, a 6.6% annual decline that remains short of the government’s 1.8 million bpd target, and IMCO reports January–September crude-only output at a 15-year low of 1.38 million bpd.
- September crude and condensate output declined to 1.61 million barrels per day, down 5.6% from a year earlier despite recent quarter-on-quarter gains.
- Newer fields contributed 566,000 barrels per day in the quarter, helping offset persistent declines at mature fields.
- Refinery activity stayed elevated even with a September pullback, with 949,772 barrels per day processed and domestic refined-fuel output up 12.8% year over year to about 1.01 million barrels per day.