Mexico cuts Pemex financial support by nearly 70% for 2027 - World Oil
Mexico cuts Pemex financial support by nearly 70% for 2027 - World Oil
Source: World Oil
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DW NOTE
Mexico is cutting fiscal support to Pemex by 70% through 2027 while Brent trades at $107 and the government's total debt exceeds 50% of GDP. The state oil company produces 1.5 million barrels per day, down from 3.4 million in 2004, and loses money on every barrel it refines domestically. This is a sovereign bankruptcy being staged as energy policy.