Mexican state-owned oil company Pemex's crude exports fell by 54pc in December 2025 from a year earlier to their lowest level since 1990.
Pemex exported just 367,800 b/d of crude in December, down from 807,300 b/d a year earlier, according to company data published Tuesday.
This volume marks the lowest since January 1990, the earliest data available in Pemex's records. Mexico's government has aimed to reduce crude exports as part of its energy policy, prioritizing domestic refining.
Full-year crude exports fell by 28pc to 580,600 b/d in 2025, down from 806,100 b/d in 2024.
Exports to the US fell by 22pc to 224,500 b/d in December from the prior month, driven by lower exports of Isthmus, Pemex's lighter crude. In contrast, sales to Europe ticked 8pc higher, while exports to the Middle East were slashed to zero from 98,600 b/d in November.
Pemex exported 225,800 b/d of heavy Maya crude in December, down by 53pc from a year earlier and 36pc lower compared with November.
Olmeca crude sales fell to 64,100 b/d in December 2025, down from 94,700 b/d a year prior and off from 66,100 b/d in November 2025.
Pemex exported 77,900 b/d of Isthmus in December, down from 201,900 b/d a year prior and off from 114,600 b/d in November. The company did not sell Zapoteco crude for a fourth consecutive month.
Mexico's domestic refineries processed 1.22mn b/d of crude in December, including 263,400 b/d of heavy crude at the new 340,000 b/d Olmeca refinery. Refinery runs were up by 37pc from a year prior and reached their highest level in more than a decade, a level last exceeded in September 2014, when refinery runs were at 1.18mn b/d.
