MEXICO (S&P) – It is the lowest price in the last 21 years, since March 11, 1999, which further complicates the financial picture of Pemex, whose credit rating has just been downgraded by S&P.
Mexican oil sold for $10.37 on Monday, the lowest price in 21 years since March 11, 1999, further complicating the financial picture for Pemex, whose credit rating was just downgraded by S&P last Thursday.
The state-run company reported this afternoon that the price of Mexico’s export oil mix sank 20.3% or $2.6 from last Friday.
The national oil drags a collapse of 82.5% or 49 dollars concerning its maximum price reached in 2020.
In the year, the average price of the barrel is 40.9 dollars, below the 49 dollars that the government guaranteed for the 2020 budget, by hiring an oil coverage program that cost 20 billion pesos.
For Edward Moya, senior market strategist at Oanda in New York, concerns about excess supply of hydrocarbons remain high as tanks around the world reach capacity. “Raw demand will be limited for a few months after President Donald Trump admitted and rejected the distancing guidelines,” he said.
International oil prices collapsed on Monday. In particular, the barrel extracted from Texas, known as WTI and the main reference for the Mexican mixture, ended up at 20.09 dollars, although it was quoted at less than 20 units during the day.
The Yucatan Times
more recommended stories
10 interesting facts about the “Penacho de Moctezuma”
Today The Yucatan Times will give.
Sister Universities of Yucatán join forces in the “Virtual Games”: 500 athletes are expected to participate
Mérida, Yucatán (May 06, 2021).- The.
Authorities arrest man for beating up his mother and sisters in Merida
Mérida, Yucatán, (May 06, 2021).- Jair.
Israel bans entry to travelers arriving from Mexico
The reason is that Mexico, along.
Biden offers help to Mexico in relation to the Metro Line 12 accident
“The United States joins the people.
Another fatal accident on the Merida-Cancun highway near the entrance to Hacienda Teya
Mérida, Yucatán, May 06, 2021.- A.
Tragedy On Metro L12: political and business negligence
The responsibility lies in poor budget.
CDMX Metro, a time bomb
The most worrying thing about the.
Carnival Cruise Line removes all July sailings from its website
Carnival Cruise Line has removed all.
Venezuela’s President Nicolás Maduro receives samurai sword gift from actor Steven Seagal
CARACAS (Reuters) -Venezuelan President Nicolas Maduro.