Pemex Oil Output Dips as Outgoing Mexican President Fails to Bolster State Giant

Mexico’s oil firm Pemex saw its oil production decline by 6% in August compared to August 2023 as outgoing Mexican President Andres Manuel Lopez Obrador has failed to turn around the fortunes of the heavily indebted state-owned company. Pemex produced a total of 1.77 million barrels per day (bpd) of liquids, which include crude oil and condensate, last month, down by 6% compared to August of last year, according to company data cited by Reuters. Crude oil production only averaged below 1.5 million bpd in August, as Pemex’s crude output…