Mexico has a growing demand for refined products and depends heavily on imports, creating favorable market conditions. Fuel demand is largely driven by the transport sector, followed by electricity generation and industry needs...
The decrease in Pemex's oil production and the low utilization of refinery capacity are the main reasons that explain the growth of fuel imports...
· Fuel production is related to the country's refining capacity. The National Refinery System (SNR) average utilization in 2019(1) was only 40%, due to nonscheduled stops, maintenance, delays in the rehabilitation of the refineries, among other factors.