Friday , March 31 2023

The Mexican mix recovers 23 cents


Mexican oil of the export registered an advance of 23 cents compared to the minimum in the previous session, to bid at $ 60.58 per barrel, according to information provided by Pemex.

In the half-week operations Mexican blend of oil was set at $ 60.35 per barrel, a new low in more than five months.

Recovery of Mexican oil was linked to the recovery of the main international crude oil, which recorded its second consecutive profits session, which, Basic bank, was driven by sanctions United States for officers Saudi Arabia for the death of Saudi reporter Jamal Khashoggi.

Another factor that increased the price of crude oil was the speculation of new production cuts Organization of oil exporting countries (OPEC) and its allies, which could cut them by up to 1.4 million barrels a day, although Russia may no longer be available.

At the close of Thursday's trading, the crude American West Texas IntermediaryWTI) posted a profit of 21 cents, which will be offered at $ 56.46 per barrel, while the English benchmark Brent It rose by 45 cents to be traded at $ 66.57.

The financial institution emphasized in its analysis note that an indicator indicating that the market was withdrawn during the day was the weekly report Managing energy information (THEY), which reported the accumulation of 10.3 million barrels per day, far exceeding the market expectations of 3.2 million barrels. This is the highest weekly increase since February 2017.

But gasoline stocks fell 1.4 million barrels, and distillates fell by 3.6 million barrels, EIM said.

While the higher oil build-up than expected was "shocking", declining refined products helped raise prices, said Phil Flynn, an analyst at The price futures group in Chicago. "Our products currently support us."

In turn, extraction platform in the United States, reached a new peak of 11.7 million barrels per day, with 100 thousand units more than reported in the previous week.

Published information increases the risk of falling oil prices in the last session of the week, revealing the number of platforms in operation by oil service company Baker Hughes.

However, in Nymex operations on November 16, the WTI delivery barrel in December rose 18 cents to $ 56.64 per barrel.

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