Reported about 11 hours ago
Following the imposition of 25% tariffs on Mexican crude oil by U.S. President Donald Trump, Mexican state company Pemex is actively pursuing buyers in Asia and Europe to mitigate the impact on its exports. With a significant reduction in exports to the U.S., Pemex has found interest from potential buyers in countries like China, India, and South Korea. Despite the prospect of higher shipping costs and speculation over discounts for U.S. clients, Pemex has no plans to lower prices, indicating a strategic shift towards non-U.S. markets as it navigates the tariffs and declining domestic production.
Source: YAHOO