Pemex Liquids Output Slides Again as Crude Exports Plummet to Record Low

Pemex, Mexico's state-owned oil company, reported a decline in liquids output for August, marking a worrisome trend for the country's energy sector. According to data released by Pemex, the company's liquids production fell to 1.69 million barrels per day (b/d), down from 1.72 million b/d in July.

This represents a decline of 2% compared to the previous month and marks the second consecutive month that Pemex has reported a decrease in liquids output. The company's crude oil exports, however, reached a record low, with only 555,000 barrels exported in August.