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Monday, September 22, 2008

Mexico May Say Oil Output Fell, Pressuring Congress: Week Ahead.

Bloomberg, September 22, 2008 - “Petroleos Mexicanos, Mexico’s state- owned oil company, may report that crude output fell for the 25th consecutive month in August, adding pressure on Congress to take up delayed legislation aimed at increasing production. Pemex probably extracted less than 2.842 million barrels a day, the amount the company produced in August 2007, said David Shields, an independent energy analyst and publisher of Energia magazine. The problem for Mexico is exacerbated by a more than 25 percent decline in oil prices since peaks reached in July.” Read more.

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