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Mexico & Nafta - July 2009 (ISSN 1741-444X)

The problem of declining output

The slide in international oil prices has, paradoxically, been good news for the government. It cannily hedged this year's oil export revenues, so it has not had to make budget cuts. More importantly, the slide in prices has obscured the alarming collapse of production at the state owned monopoly, Petróleos Mexicanos (Pemex).

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