Pemex Cuts Oil Exports, Tightening Global Crude Supplies Ahead of Mexico Election
- Mexico's state oil company Pemex plans to halt some crude oil exports, tightening global oil supplies further
- The export cuts come as Pemex aims to produce more domestic gasoline and diesel ahead of Mexico's June 2 presidential election
- The halted exports affect primarily Maya heavy sour crude oil shipped to the US, Europe, and Asia
- Global benchmark Brent crude prices could reach $100 a barrel this year due to tight supplies
- US Gulf Coast refiners that import Maya crude are likely to be most impacted by the export cuts