Mexico: National Oil Production Fell 6.1% Year-on-Year in August

National oil production in Mexico registered a decrease of 103,000 barrels, a drop from the 1.673 million barrels recorded in August 2023.

In August, Mexico’s crude oil production averaged 1.570 million barrels per day, reflecting a slight monthly increase of just over 5,000 barrels per day, or 0.3%. However, on an annual basis, it showed a 6.1% decline, equating to 103,000 barrels fewer than the 1.673 million barrels per day reported in the same month of 2023.

According to the report published by the National Hydrocarbons Commission (CNH), which includes data from all of the country’s oil operators, including Petróleos Mexicanos (Pemex), the total extraction of all liquid hydrocarbons, including crude oil, condensates, and natural gas liquids, amounted to 1.836 million barrels per day. This showed a slight monthly increase of 0.2%, although there was a 5.5% decline over the year.

Condensate production—high-value, combustible liquids such as naphtha that have a less immediate market compared to crude oil—was 265,400 barrels per day, with a 0.4% monthly decline, and a 2% annual drop in extraction.

The total extraction of natural gas reached 4.544 billion cubic feet per day, marking a 0.7% monthly increase, but an 8.9% decline compared to the previous year.

Meanwhile, the production of gas associated with crude oil extraction in August stood at 2.676 billion cubic feet per day, reflecting a monthly reduction of 0.6% and a significant 14% drop compared to the 3.126 billion cubic feet per day produced in August of last year.

However, production from non-associated gas fields totaled 1.868 billion cubic feet per day, with a monthly decline similar to that of associated gas, at 0.69%. In contrast, on an annual basis, non-associated gas production saw a slight increase of 0.2%.