Pemex Cancels Crude Oil Exports Amid Global Market Squeeze

Mexico’s state-controlled oil company, Pemex, is planning to halt some crude exports in the coming months, a decision that will reduce supply in the global market. Pemex has canceled contracts to supply its flagship Maya crude oil to refiners in the US, Europe, and Asia. This move is expected to have a significant impact on the availability of crude oil, contributing to the tightening of the global market.