Analysts skeptical about Pemex's 2009 production forecast

Mexico’s state oil company Pemex recently revised its 2009 production forecast down to 2.65 million b/d from 2.75 million b/d, but the company’s forecasts are usually taken with a grain of salt given its repeated inability to meet its own predicted production levels. According to BNamericas, analysts believe the drop could be even more severe.

National production averaged 2.59 million b/d in the second quarter of the year and 2.67 million b/d in the first quarter.

Mexico’s state oil company Pemex recently revised its 2009 production forecast down to 2.65 million b/d from 2.75 million b/d, but the company’s forecasts are usually taken with a grain of salt given its repeated inability to meet its own predicted production levels. According to BNamericas, analysts believe the drop could be even more severe.

National production averaged 2.59 million b/d in the second quarter of the year and 2.67 million b/d in the first quarter.

Petroleum World