Mexico’s state-controlled oil company plans to halt some crude exports in coming months

Petroleos Mexicanos (AKA Pemex) has cancelled contracts to supply its flagship Maya crude oil to refiners in the US, Europe and Asia, according to people with knowledge of the situation – reports come via Bloomberg (gated).

• Pemex’s plan to suspend some exports is part of an effort to produce more domestic gasoline and diesel ahead of the June 2 presidential election, the people said

Mexico on average exports about 600,000 barrels a day of Maya crude.

Oil price update:

This article was written by Eamonn Sheridan at www.forexlive.com.