Mexican crude oil production falling fast

in Peak Oil by

The Mexican oil company, Pemex, released figures of the crude production in April. The decline is 13%, the most in more than 12 years, as output at its largest field, Cantarell declined faster than the company forecast.

Output has been on a decline since reaching a peak in December 2003.

Since 1999, proved reserves had been more than halved to 14.7 billion barrels of crude oil equivalent.

Cantarell production fell 30% in March compared with a year earlier, the largest drop since October 1995.

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