A stroke of luck in global markets
The figures that Pemex has just released are to be taken calmly and with a cup of strong coffee. The Mexican crude oil mix was quoted at $58.99 per barrel. Does it sound like a lot or a little? The key fact is in the comparison.
That price is not only good. It exceeds the official forecasts that the same government had for two years from now, according to its General Economic Policy Criteria 2026. They expected $54.9. The Banamex bank was even more conservative, anticipating 52.
The average annual price stands at $57.51, above the $54.9 estimated by the federal government.
This is not magic. It is a direct reflection of a global scenario where energy prices have strengthened. Our crude oil navigates in the wake of its world benchmarks.
The US WTI closed at $62.89 and the European Brent at 67.75. When those giants rise, our mix finds a firmer and more attractive floor for international buyers.
What this respite really means
For national accounts, every extra dollar per barrel is oxygen. These are oil revenues that arrive earlier than planned and above budget. In the grand theater of economics, it’s as if a supporting actor steals the scene with an unexpectedly strong performance.
Now it’s time to see if this favorable script is maintained in the next scenes or if it is just a temporary act in the volatility of the markets.
