Mexican export blend rises to 69%

The price of Mexican export crude has risen week over week since July due to the conflict in the Middle East, which has sparked a series of concerns about prolonged disruptions to the global energy supply.

Since the conflict began in February, the basket has risen by 43.30%, accounting for up to 69% of Mexico's oil exports so far this year.

The price of Mexican crude oil rose 0.22% to US$90.94 per barrel, marking its highest price since July, when it closed at US$91.68, according to data from Petróleos Mexicanos (Pemex).

In its weekly comparison, the index rose 13.82%, its largest increase since the week ending in July, when it rose 16.32%.

From January through July, Pemex’s production of liquid hydrocarbons has seen a slight increase of 1.9% to 1,658,000 barrels per day, following two years of declines during the same periods (4.5% in 2024 and 9.5% in 2025).

The increase was driven by the production of condensates or natural gasoline, which rose 12.5% to 291,000 barrels per day—the highest level since records began.

On the other hand, crude oil production fell by 0.1% to 1,367,000 barrels per day, representing a slower rate of decline compared with the 5.9%, 4.7%, and 10% contractions recorded in 2023, 2024, and 2025.

Pemex's production of liquid hydrocarbons stands at 140,000 barrels per day, below the government's target of 1.8 million barrels per day, as set out in the state-owned company's 2025-2035 Strategic Plan.