Mexico City. The value of all energy trade between the United States and Mexico was $66.5 billion in 2023, a 14.52 percent decrease from 2022, according to data from the U.S. Energy Information Administration (EIA).
Data from the office indicate that the inflation-adjusted figure – which represents the total value of energy imports and exports between the two countries – reported last year was lower than the $77.8 billion reported a year earlier.
Lower fuel prices more than offset the increase in the volume of energy trade between the two countries.
he indicated.
The EIA noted that in 2023 the United States imported more crude oil from Mexico, but paid less per barrel compared to 2022.
Thus, the purchase of Mexican oil from the US averaged 733 thousand barrels per day, a figure that represented an increase of 15 percent compared to the volume reported in 2022.
The EIA said the country bought crude oil at a lower price last year because global oil prices fell.
The U.S. government office said the agreed price for immediate transactions of Brent crude oil averaged $82.41 per barrel in 2023, 18.35 percent lower than $100.94 per barrel in 2022.
Data from Petróleos Mexicanos (Pemex) indicate that on average the barrel of the Mexican mix stood at 70.98 dollars in 2023, an amount that translated into a decrease of 20.24 percent compared to 89.24 dollars per barrel in 2022.
Despite rising import volumes, lower oil prices reduced the value of U.S. crude imports from Mexico by 4 percent in 2023 compared with 2022.
the EIA said.
Purchase of derivatives
Oil sales to Mexico’s northern neighbor accounted for 81 percent of all energy transactions in 2023. He noted that the United States did not export crude oil to Mexican territory in 2023.
The EIA noted that during the reference period, Mexico was the largest export market for petroleum products from the United States, including exports of gasoline, diesel, jet fuel and propane, among others.
Taking into account imports made by Pemex and private companies that sell energy derived from crude oil, Mexico acquired an average of almost 1.2 million barrels per day last year.
The data does not entirely match what was reported by the Ministry of Energy, as the federal agency indicates that imports of liquefied gas, gasoline, jet fuel, diesel, fuel oil, naphtha and others, both from Pemex and private companies, averaged 1 million 89 thousand barrels per day in 2023.
The Mexican government is seeking to reduce this dependency through various actions, which has so far been achieved in the area of gasoline and diesel. In addition, with the start of operations, energy imports from the United States should be reduced in the following years.
#bought #crude #oil #Mexico #paid
– 2024-08-09 19:28:51
