From The Rio Times · Gabriela Vargas · · 3m
Mexico Oil Revenue Up 10.5% as Exports Sink
Mexico's oil revenue rises 10.5% but exports fall 45% as Brent crude hits $109.55.
In brief
Mexico's oil revenue rises 10.5% but exports fall 45% as Brent crude hits $109.55. Mexico's public oil revenue rose 10.5% in real terms to MXN 690.4 billion (US$37.5 billion) in Jan-Aug 2026, but Pemex crude exports dropped 45% to 276,000 barrels a day. Originally reported by The Rio Times.
Mexico Oil Revenue Up 10.5%
Public-sector oil revenue rose 10.5% in real terms to MXN 690.4 billion (US$37.5 billion) in January to August 2026.
Pemex Crude Exports Down 45%
Pemex crude exports fell 45% to 276,000 barrels a day in August 2026 from 500,000 barrels a day a year earlier.
Brent Crude Hits $109.55
Brent crude futures settled at US$109.55 on Monday 19 October 2026 and touched US$111 on Tuesday 20 October 2026.
Pemex Debt at US$97 Billion
Moody's puts Pemex's adjusted debt at about US$97 billion, with US$4.8 billion due in 2027 and US$9 billion in 2028.
Mexico's Crude Mix at US$99.6
Mexico's crude mix sold for US$99.6 a barrel on Monday 19 October 2026 against a 2026 budget price of US$54.9.
Fuel Imports Rise
Mexico still buys about 49% of its gasoline and 27% of its diesel abroad, increasing the fuel-import bill.
Fuel Tax Relief Cuts Revenue
Gasoline and diesel tax income fell 5.0% in real terms to MXN 277.1 billion (US$15.0 billion) this year.
Budget vs. Current Prices
The 2026 budget assumed US$54.9 a barrel for Mexican crude, but current prices are 81% higher at US$99.6.
Pemex Exports to Americas
133,000 barrels a day of August exports went to the Americas, 111,000 to Europe and 32,000 to the Far East.
Prediction Markets
Polymarket gives 14.5% to WTI crude hitting US$110 in October and 3.1% to US$120 (20 October).
Pemex Refining Losses
Pemex faces refining losses near US$5 billion that volatility could push to US$6 billion.
Budget Deficit Stays Low
The budget deficit stood at MXN 739 billion (US$40 billion), below the MXN 1.015 trillion (US$55 billion) allowed for the period.
Oil Revenue Growth
Pemex's income inside the total grew 13.6%, tied to higher sales and international prices.
August Oil Revenue
August alone brought MXN 81.8 billion (US$4.4 billion), up 9.1% from a year earlier.
Energy Sovereignty Strategy
Latinus links the drop in exports to more crude going into Pemex's own refineries and the government's energy-sovereignty strategy.
What Happens Next
The next monthly finance report, expected at the end of October, will show whether oil income kept growing in September.
The takeaway
Mexico's public oil revenue rose 10.5% in real terms to MXN 690.4 billion (US$37.5 billion) in Jan-Aug 2026, but Pemex crude exports dropped 45% to 276,000 barrels a day.
