Pemex oil data is a bellwether for Mexican industry

Petróleos Mexicanos, known as Pemex for short, is Mexico's biggest enterprise. As such, the oil giant can have an outsized impact on the nation's economy, and its operational data can provide an early signal of how other Mexican businesses are performing.

One of CEIC's newest data additions includes Pemex's sales; we cover daily sales value and volume for various petroleum-related products.

Petrochemical sales have been contracting, especially so in September; this is in line with a similar deterioration in the nation's industrial production index (IPI), which has been in negative territory for four months.

It's worth noting that Pemex datasets are useful as an early indicator: in this case, they preceded official IPI statistics by about two weeks.

We have also charted figures for "petroliferous products," i.e. diesel, gasoline and other fuel categories ranging from liquefied gas to kerosene. We've highlighted "magna" gasoline, the most common type of regular unleaded gasoline sold in Mexico, as well as higher-octane "premium" fuel.

It's notable that for several categories, there's a discrepancy since 2023 between the fuel prices paid by consumers and the "value per unit," which we derive by taking the value of Pemex sales in a given category and dividing by its corresponding volume. This may be a result of public policy (i.e. taxes/subsidy removal/caps on fuel pricing) and could also reflect Pemex's operating challenges. (The company recently posted a USD 3.3 billion loss and has received a government aid package to shore up its finances.)

CEIC is expanding its Latin American oil and gas coverage from Argentina to Mexico, from demand (consumption) to supply (production) and other new price-related datasets. They include granular detail by region and product, as well as company-specific datasets.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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