270 comments on DrumBeat: January 27, 2007
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270 comments on DrumBeat: January 27, 2007
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Good story Jeffery. Well Good is a relative word here.
Mexico production has not declined that much from the start of the the year. So they have been able to compensate. However the decline is significant in terms of exports. You have made everyone an expert in considering exports rather than just total production. I know I just thought about total oil production before I read your posts.
In December of 2005 Mexico produced 3,388,000 barrels of oil per day, C+C. In December of 2006 Mexico produced 2,978,000 barrels of oil per day, C+C. That is a drop, December to December of 410,000 barrels per day.
You are probably looking at the average for 2005 verses 2006. They had hurricane Emily, plus platforms were abandoned for Katrina, Rita and Wilma for a short time. This caused the 2005 average to be quite lower than normal. That plus the fact that Mexican production decline has accellerated in the last three months. They have dropped 280,000 barrels per day in only the last three months. I would cause that very significant.
Ron Patterson