Industry Trend Analysis - Crude Output Turning A Corner In 2018 - DEC 2017
BMI View: Mexican crude production will stabilise in 2018 after more than a decade of declines. Pemex will remain focused on steadying output from its existing upstream portfolio while private sector-led investments will begin to bear fruit by year-end.
After 13 consecutive years of output declines, Mexico's crude will begin to reverse course in 2018. National oil company (NOC) Pemex will remain the largest contributor to production for the foreseeable future, having been the sole upstream operator for nearly 75 years. Its efforts to stabilise output from key projects will therefore provide a more solid foundation, beginning next year.
Pemex Continues To Regroup
|Declines Losing Steam|
|Mexico - Crude Production by Region, 000b/d|