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Mexico Oil Supply - July 2017

Source: OPEC 7/19/2017, Location: South America

Mexican liquids production in 2017 is expected to witness a significant decline, dropping by 0.17 mb/d to average 2.30 mb/d. Mexican crude oil production in May was lower y-o-y by 154 tb/d at 2.02 mb/d, weighed down by high decline rates, while NGLs output, despite a minor decline m-o-m in May, is at an average y-t-d level of 0.3 mb/d, a similar level to last year’s average. Mexico’s total liquids output in May increased by 10 tb/d, to reach an average of 2.32 mb/d. It is expected that the production ramp up of the offshore Ku-Maloob-Zaap Project (K.M.Z ) field will continue in 2017 and 2018, increasing by 43 tb/d and 37 mb/d, respectively. There are also expected to minor increases in 2017 from smaller fields such as; Ayatsil-TekelUtsil, Roza Rica, Chicontepec, Veracruz and Apertura. However, the outlook for Mexico liquids supply in 2018 indicates a further decline of 0.17 mb/d, with annual average output at 2.13 mb/d.

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