Business · Energy & Commodities · 2 hrs ago
Mexican oil blend reaches $99.20 a barrel
Mexico’s export oil blend was priced at $99.20 per barrel on Friday, October 16, according to Pemex.
The figure is an estimate for information purposes, calculated using regional pricing formulas and daily market prices.
Pemex, Mexico’s state oil company, publishes the price each day.
Mexico produces three types of crude: Maya, Istmo and Olmeca, which differ in density and in the products they can yield.
Maya crude makes up 54% of national production and is the most exported Mexican blend, but its heavier quality produces less gasoline and diesel.
Lighter Istmo crude can yield more gasoline and other middle distillates, while extra-light Olmeca is used for lubricants and petrochemicals.
Pemex supplied 98.8% of Mexico’s crude in 2020, with private companies accounting for the remaining 1.2%; the figures give background on the state company’s role in the oil market.
Mexico’s crude oil blend reached $99.20 a barrel on Friday, October 16.
The price was reported using information updated daily on the official website of state oil company Pemex.
Pemex says the published export crude price is an estimate for informational purposes.
The estimate uses regional pricing formulas and the daily close of relevant quotations.
- Who
- Mexico’s crude oil blend, with the price reported by Pemex.
- What
- It reached $99.20 a barrel.
- When
- Friday, October 16. The year is not stated in the article text.
- Where
- Not stated.
- Why
- The article reports the daily estimated price; it does not state a reason for the price level.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Price
- $99.20 a barrel
- Date
- Friday, October 16
- Price source
- Pemex’s official website
- Estimate basis
- Regional pricing formulas and daily closing quotations