Mexico Says OPEC Has Not Approached It For Deal Extension

21 Oct 2017   Mexico

OPEC has not yet approached Mexico to discuss the possibility of extending the oil production cut deal sealed last November, Mexico’s deputy energy minister Aldo Flores told Reuters. Mexico was one of the ten non-OPEC producers that agreed to join the cut in December 2016. Yesterday, OPEC’s Secretary General Mohammad Barkindo told reporters at the Oil & Money conference in London that the platform of 24 countries should be made permanent, and that it would be discussed at the November 30 meeting in Vienna. Flores added that Mexican officials will not travel to Vienna for the November OPEC meeting, as this meeting is strictly for OPEC members. Talk about extending the agreement beyond the March 2018 deadline has intensified during the last few weeks as the meeting’s date draws near, but nothing is yet certain. Mexico pumped 1.73 million bpd last month, down by a tenth from August, as […]

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