Mexico signs agreement of non-OPEC production

The oil market was surprised to learn of the agreement signed by Mexico that goes against the grain of the Opec. With promise of short-term production reduction, the country, which also participated in the meeting of producers on the sim, only undertook to reduce in bp, 2017 100000 when the agreement between OPEC members is 558,000 bp.

In an interview with Think Tank in Washington, Mexico's Minister Aldo Flores, did not comment on the statement, but said that Mexico's participation in the meeting in Vienna was in the context of the expected fall of Mexican State-owned Pemex. And a managed decline will also help bring the market to equilibrium.

With increasing decline, Mexico's oil production has reached the peak of bd in 3,400,000 2004. New declines have been included in the budget of the country for 2017. The country now is preparing to conduct more licensing rounds next year, what will disassemble the monopoly of Pemex.

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