Business · Energy & Commodities · 2 hrs ago

Mexican crude blend reaches $99.60 a barrel

Mexican crude blend reaches $99.60 a barrel

Mexico’s export crude blend was priced at $99.60 a barrel on Wednesday, according to state oil company Pemex.

The figure is an estimate based on regional pricing formulas and daily market closes, not a fixed price.

Mexico produces three main types of crude: Maya, Istmo and Olmeca.

Maya crude makes up 54% of the country’s oil production and is the most exported Mexican blend, while lighter types can produce more fuels or petrochemicals.

The price matters because it gives a daily indication of the value of Mexico’s crude in international markets.

Pemex publishes the estimate each day, and no further price change or next step is specified.

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