Overview
- In August 2026 Pemex produced 1.33 million barrels per day of crude oil, a 2.7% year‑on‑year decline and the worst August since the company began keeping records.
- Total liquid hydrocarbons, including condensates, fell to 1.63 million barrels per day in August, the lowest level in Pemex's historical series.
- Analysts and company data point to natural decline in mature fields and a lack of new discoveries as the main causes of the drop in crude volumes.
- Pemex has proposed 21 mixed contracts with private partners but has awarded nine so far and only four show operational progress, limiting near‑term supply gains.
- Refining and gas outputs improved in August with gasoline and diesel at their best August levels in years and natural gas at 4,985 million cubic feet per day, yet diesel still falls short of domestic demand and the company remains under fiscal pressure to meet the 1.8 million bpd hydrocarbon target.