Overview
- Pemex’s November hydrocarbon liquids averaged 1.641 million bpd including partners, or 1.624 million excluding them, down 1.9% year over year and roughly unchanged from October.
- From January to November, production averaged 1.633 million bpd, 7.8% lower than a year earlier and so far the lowest annual pace since 1979, according to official data.
- Crude exports averaged 600.4 thousand bpd in the first eleven months, the weakest for a comparable period since 1990, with oil export revenue down 35.4% year over year.
- In November alone, exports were 539 thousand bpd worth $925 million, declines of 43% and 50% respectively versus the same month in 2024.
- Refinery intake averaged 998.5 thousand bpd in January–November, up 9.9% year over year, and Pemex says it has paid nearly 300 billion pesos to suppliers with additional liquidity expected from a 250 billion‑peso Banobras facility.