At the conclusion of the last transaction OPEC+ Mexico refused to cut production in may-June in General terms (23% of the production level in October 2018), 400 thousand barrels per day. The country has agreed to reduce production for two months at 100 thousand barrels per day, and the remaining share of the reduction was assumed by the US, promising to further reduce oil production by 300 thousand barrels per day. About the future plans of Mexico by reduction of production were not aware until today’s statement Rocio Nala.
This means that the country from July 2020 would not be bound by commitments to reduce oil production. About US intentions to continue to compensate the quota of Mexico in General, the decline after June of this year are not yet known.
oil Production in Mexico naturally fallen from 3.4 million barrels per day in 2004 to 1.7 million barrels per day in 2019.
the New deal OPEC+ is enclosed in record time – until may 1, 2022. In may-June, OPEC+ will cut production of 9.7 million barrels per day. From July 2020, a quota reduction for all countries will be reduced to 18% from October 2018, and the total amount of decline in production will be 8 million barrels a day. From 2021 the loss to fall to 6 million barrels per day.
