Mexico Oil Production through April 2018.png
In this image taken from
LINK the original post date is early 2017 however the creator used Google live image tech so it updates every few months with new data. In this particular capture Mexico oil production is most recently posted for April 2018, which is about as fresh as you can get any data and expect it to have been through a couple preliminary correction cycles.
In this case the image now shows Mexico has fallen below 2.2 MM/bbl/d in crude+c+ngl for 2018. Meanwhile for the last decade Mexican internal oil consumption has been hovering around 2 MM/bbl/d. The logical conclusion being Mexico either has to get their act together and start fracking a lot on their side of the Rio Grand or they will cross over into being a net oil importer within the next 12 months.
The thing is we already know that some of the richest frackable shale formations in the USA in Texas and New Mexico being natural formations do not simply stop at the political border, they continue well on into Mexico proper. We also know that Mexico has been suffering major budget issues because they count on export income to pay for much of their budget and in the last decade as their exports have fallen things have been unpleasant.
We also know Mexico realizes these issues and set out about six or eight years ago to rewrite their energy laws to encourage foreign investment, but then the 2014 price crash derailed all those plans as the world glut meant nobody wanted to risk investing in a country that had already 'nationalized' investments in an earlier cycle of political upheaval.
So I am looking for evidence that with the return of world demand/supply balance in early 2017 that interest in investing in Mexico has resumed. Basically they can't get fracking going without money for infrastructure improvements and other financial investment so I am looking for a flow of cash to Mexico and so far I am not seeing evidence of it.
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