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Mexico's Pemex reverses proposed crude export cuts for May -sources
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Mexico's Pemex reverses proposed crude export cuts for May -sources
Apr 26, 2024 1:24 PM

HOUSTON/MEXICO CITY, April 26 (Reuters) - Mexican state

oil company Pemex is reversing crude exports cuts of at least

330,000 barrels per day (bpd) planned for May amid a

smaller-than-expected oil demand by the company's domestic

refineries, two sources close to the decision said on Friday.

Pemex's international trading unit in April began enforcing

exports cuts over supply crude contracts to customers in the

United States, Asia and Europe to increase its availability of

crude for domestic refining, especially in preparation of its

Dos Bocas refinery startup.

But planned maintenance at some refineries and a

slower-than-expected startup at Dos Bocas will reduce the need

for domestic crude in May, the two sources and an additional

person with knowledge of the company's operations said.

Pemex did not immediately respond to a request for comment.

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