Mexico to raise oil output as OPEC cuts
Seeking Alpha
Published Dec 16, 2018 04:01AM ET
Mexico to raise oil output as OPEC cuts
- Mexico aims to lift oil and gas production by almost 50% in the next six years and in January will award infrastructure and drilling contracts to develop 20 fields.
- "It's a new Pemex rescue," declared President Andres Manuel Lopez Obrador, who took office on Dec. 1.
- Under the plan, Mexican crude output is due to climb to some 2.624M barrels per day by the end of 2024, while gas production will also rise by about 50%.
- ETFs: USO, OIL, UWT, UCO, DWT, EWW, SCO, BNO, DBO, MXF, DTO, USL, DNO, OLO, SZO, MXE, OLEM, WTIU, OILK, DBMX, HEWW, OILX, WTID, USOI, USOU, USOD, MEXX, FLMX, OILD, OILU, USAI
- Now read: Mexico: Time To Become Positive On EWW Again
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