Mexico’s December Crude Output Lowest Since Nov 2000

MEXICO CITY: Crude oil production at Mexican state oil monopoly Petroleos Mexicanos, or Pemex, fell 6 percent to 2.98 million barrels a day in December from 3.16 million barrels daily in November, the company reported Monday.

Pemex, one of the top foreign suppliers of crude to the U.S., said exports fell to 1.53 million barrels daily from 1.79 million barrels a day in November. The company said it was forced to postpone some shipments until January because poor weather conditions forced the closure of oil loading ports.

Company officials have said they aim to produce an average of 3.2 million barrels a day in 2007.

The average daily production in December was the lowest since November 2000, and well below the 3.39 million barrels a day produced in December 2005. It was also the first time in six years that average daily production has fallen below 3 million barrels daily.

AP