Mexican crude oil production drops 10 percent The Associated PressPublished: August 21, 2008
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MEXICO CITY: Mexican crude oil production has dropped 10 percent so far this year, compared to the same period a year ago.
The country's state-run oil monopoly says it produced 2.84 million barrels of oil daily in the first seven months of the year.
The drop caused exports to fall 16.3 percent over the same period, for an average of 1.44 million barrels a day.
At the same time, oil export revenues climbed to a total of US$30.1 billion, 52 percent higher than a year before. The rise is driven by high oil prices.
Petroleos Mexicanos, or Pemex, announced the figures Thursday.
Today in Business with Reuters The bottom line on ObamanomicsFresh warning on economy from U.S. Fed chiefAs Britain's economy stalls, regulatory chief calls for tougher oversight Experts say Mexico's proven reserves will last only 10 more years. President Felipe Calderon is pushing to allow more private investment to boost production
