Mexico & Nafta - December 2007 (ISSN 1741-444X)

Even though oil prices have come off their peaks of just under US$100 a barrel, the international price is still almost double what the government is budgeting for 2008, and almost two and half times what it budgeted for 2007. At the end of November, Mexico's (predominantly heavy) oil was selling for an average of US$80 a barrel. For 2008 the government is budgeting on an average price of US$49 a barrel. 

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