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The Mexican oil mix closed this Friday, August 5th

The IS Mexican oil mix reached a price of 84.54 dollars per barrel this Friday, August 5, according to updated information daily on the official website of Petroleos Mexicanos (Pemex).

The price of the Mexican blend of crude oil for export, published on the Pemex website, is an estimate provided exclusively for informational purposes. The price is calculated using the price formulas according to geographical regions and the corresponding prices are closed daily.

Information of the state oil company indicates that in 2020 production stood at one million 705,000 barrels per day annual average, surpassing the average annual production of 2019 at four thousand barrels per day and thus breaking a 15-year streak of falling production.

Crude oil is classified depending on the API (American Petroleum Institute) grades, considering values ​​below 30 as heavy and above 30 as light. In Mexico it is divided into three types depending on their density: Isthmus, Olmec and Maya.

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Mexico produces three types of oil: Maya, Olmec and Isthmus. (Photo: Daniel Becerril/Reuters)

Types of crude oil in Mexico

According to Pemex indicators, of oil production in the country, the 54% is considered heavy crude (Maya)the 33% as light (Isthmus) and the The remaining 12% corresponds to ultralight crude oil (Olmeca).

It is considered that the Maya combination is the most competitive of Mexico because it is the one with the highest export, as well as being used as a substitute mixture for the other two. Because it is raw “heavy”. it has lower yields in gasoline and diesel productionhowever, thanks to this characteristic, it is the main source of energy for energy production for domestic use.

the seizureto be a light crude oil that can be given higher yield in gasoline production and middle distillates (petroleum products found in the “middle” boiling range, between 180°C and 360°C).

The IS Olmec mix It is considered “extra light”, a characteristic it does useful in the production of lubricants and petrochemicals.

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The state company reports daily on Mexican crude oil prices in the international market (Photo: Luis Cortés / Reuters)

Production and export

Figures presented by the Association of Banks of Mexico (ABM) show that the state production company exported an average of 140,000 barrels of light crude oil per day in 2020, while the same year’s production was 1,705,000 barrels per day, which represents an estimate estimated. four million barrels more than in 2019.

Currently, Pemex continues to be the most relevant crude oil producer in the national market, adding during the year 2020 98.8% of the total production of crude oil, while the production of private companies represented only 1.2% of the country’s total.

The above amount is due in part to the incorporation of 146.5 thousand barrels per day of production from the new fields that began their development in the first half of 2019.

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