Mexico produces roughly 1.6 million barrels per day, dominated by state-owned Pemex. Maya crude (heavy, sour) is a key feedstock for U.S. Gulf Coast refineries configured for heavy grades. Cross-border energy trade with the U.S. is significant in both directions.
Mexican production has stabilized after years of decline, with offshore Gulf of Mexico fields offsetting maturing onshore fields. Pemex's financial position remains strained but production discipline has improved.
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