One Optimistic Oil Forecast

Last October, I noted some serious oil disorder south of the border, particularly when it comes to the formerly famed and now fast-fading Cantarell field. Today, I’m once more urging you, my fellow oil-focused Fools, to keep an eye on Mexican production.

At the outset, this Mexican supergiant contained perhaps twice the reserves of Petrobras’ recent Tupi discovery. The glory days are gone, however. In 2007, Cantarell produced roughly 1.47 million barrels per day (boe/d). That figure dropped to just a touch over one million daily barrels in 2008. This year could see an even steeper decline.
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