The state-owned Mexican oil company Pemex plans to cut its oil exports this year. It’s the first step toward the goal of Mexico producing 100% of its oil domestically.
Mexican President AMLO wants Mexico to be completely independent from other countries for their energy.
Currently, Pemex exports 600,000 barrels of oil per day to the United States. However, they plan to have the oil output from their newly acquired Shell Deer Park refinery continue to flow to the U.S.
If Pemex’s plan moves forward as hoped, the U.S. will need to make up the lost oil from other sources.
Source: Texas Standard, “An ambitious goal: Mexico’s Pemex plans to end all oil exports,” by Alexandra Hart, January 10, 2022