Mexican blend reaches its best level in 21 months: $65.36 per barrel

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Mexico City, (June 2, 2021).- The Mexican export mix (MME) surpassed the barrier of 65 dollars per barrel on Wednesday, June 2nd, after gaining 1.49 percent, or 96 cents, to settle at 65.36 dollars per barrel, reported Petróleos Mexicanos (Pemex).

According to the records of the Mexican state company PEMEX, this is the best price of a Mexican barrel since September 16, 2019, when it closed at $ 65.83.

At the beginning of April, the Mexican Ministry of Finance and Public Credit (SHCP) improved its estimate of the price of the Mexican blend from 42.1 to 55 dollars per barrel, so it is now 10.36 dollars short of that last estimate.

Meanwhile, the price of intermediate oil from Texas (WTI) closed this Wednesday with a rise of 1.64 percent to 68.83 dollars, driven by the confirmation of OPEC + of its plans to increase the supply and by the slow advance of the talks between Washington and Tehran that could lead to the lifting of the embargoes against Iran.

Source: El Economista

Mexico Daily Post