Crude Oil Production in Mexico increased to 1738 BBL/D/1K in July from 1719 BBL/D/1K in June of 2025. This dataset provides the latest reported value for - Mexico Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Mexico's oil production experienced an overall declining tendency over the past decade, dipping below *********** barrels per day in recent years. In comparison to the average *********** daily barrels reported in 2008, this represents a decline of nearly ** percent. In parallel, Mexico's oil reserves have also been on a mostly downward trend since the ******.

Key information about Mexico Crude Oil: Production

• Mexico Crude Oil: Production was reported at 1,553.358 Barrel/Day th in Dec 2024
• This records a decrease from the previous number of 1,653.184 Barrel/Day th for Dec 2023
• Mexico Crude Oil: Production data is updated yearly, averaging 2,667.755 Barrel/Day th from Dec 1960 to 2024, with 65 observations
• The data reached an all-time high of 3,383.003 Barrel/Day th in 2004 and a record low of 265.090 Barrel/Day th in 1960
• Mexico Crude Oil: Production data remains active status in CEIC and is reported by Organization of the Petroleum Exporting Countries
• The data is categorized under World Trend Plus’s Association: Energy Sector – Table RB.OPEC.CO: Crude Oil Production: Yearly

Crude oil production by private companies in Mexico averaged **** thousand barrels per day in 2021, up from **** thousand daily barrels a year earlier. For years, Mexican national oil corporation Pemex had exclusive rights to oil exploration in the country. An energy reform established in 2014 put an end to the company's monopoly, allowing private companies to produce crude oil in the national territory. As a result, private production of crude oil in Mexico has increased constantly since 2016.

Texas is by far the largest oil-producing state in the United States. In 2024, Texas produced a total of over two billion barrels. In a distant second place is New Mexico, which produced 744.6 million barrels in the same year. Virginia is the smallest producing state in the country, at three thousand barrels. Macro perspective of U.S. oil production The U.S. oil production totaled some 19.4 million barrels of oil per day, or a total annual oil production of 827 million metric tons in 2023. As the largest oil producer in the U.S., it is not surprising that Texas is home to the most productive U.S. oil basin, the Permian. The Permian has routinely accounted for at least 50 percent of total onshore production. Regional distribution of U.S. oil production A total of 32 of the 50 U.S. states produce oil. There are five regional divisions for oil production in the U.S., known as the Petroleum Administration for Defense Districts (PADD). These five regional divisions of the allocation of fuels derived from petroleum products were established in the U.S. during the Second World War and they are still used today for data collection purposes. In line with the fact that Texas is by far the largest U.S. oil producing state, PADD 3 (Gulf Coast) is also the largest oil producing PADD, as it also includes the federal offshore region in the Gulf of Mexico. There are around 590 operational oil and gas rigs in the country as of February 2025.

Gulf Of Mexico Oil And Gas Market size was valued at USD 52.20 Billion in 2024 and is projected to reach USD 73.67 Billion by 2032, growing at a CAGR of 4.4% from 2026 to 2032.

Key Market Drivers:

Growing Deepwater Exploration and Production: In 2023, deepwater oil output in the Gulf of Mexico reached around 1.8 million barrels per day, accounting for more than 15% of total US crude oil production.

Infrastructure Development and Pipeline Network Expansion: As of 2023, the Gulf of Mexico had over 9,000 miles of active offshore pipelines, with pipeline capacity growing by 12% between 2020 and 2023.

This statistic shows the offshore oil production in the United States Federal Offshore Gulf of Mexico oil field from 2013 to 2017. In 2017, the U.S. Gulf of Mexico's oil production amounted to some **** million barrels per day.

This statistic shows the projected Mexican superlight crude oil production from 2008 to 2017. It is estimated that around ******* barrels of superlight crude oil a day will be produced in Mexico in 2015.

Exports of Crude Oil - Maya in Mexico decreased to 508 BARRELS/DAY Thousand in February from 569 BARRELS/DAY Thousand in January of 2024. This dataset includes a chart with historical data for Mexico Exports of Crude Oil - Maya.

The Petroleum Refining industry in Mexico processes a wide variety of liquids and fuels such as gasoline, diesel, kerosene, different varieties of aviation fuel, asphalt paving mixtures and other crude oil feedstocks. These products are used downstream in airline operational facilities, utilities and manufacturing industries and even by households for vehicle fuel. The industry is monopolized completely by Petróleos Mexicanos (Pemex), which owns all six operational refineries in Mexico. Despite Pemex being one of the largest crude oil and natural gas producers in the world, the Petroleum Refining industry has remained a net importer over the five years to 2019. According to Pemex's latest available annual report, in 2017, the company imported an estimated 570,200 barrels of gasoline per day, satisfying 71.5% of total domestic demand by volume. Actual production in Mexico is slightly over 40.0% of total refining capacity. This has proved detrimental for industry revenue despite a constant uptick in demand.

In 2024, Brazil was the largest crude oil producing country in Latin American and the Caribbean, with an average output of over 3.36 million barrels per day. Mexico followed, with around 1.84 million daily barrels. Meanwhile, Venezuela trailed in third, with some 863 thousand barrels per day, despite having by far the largest crude oil reserves in the region.

The size of the Mexico Oil and Gas Downstream Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 2.00% during the forecast period. Recent developments include: In December 2022, the Ecopetrol Group announced its investment plan for the energy transition. Out of the total share of investment, 7% will be invested in downstream activities. The investments will emphasize maintaining the reliability, availability, and sustainability of the Barrancabermeja and Cartagena refineries' operations to consolidate energy security, energy transition, and decarbonization of Mexico., In December 2022, Mexican NOC Pemex is set to begin production at the country's eighth refinery in mid-2023. Once completed, the Olmeca refinery will have an installed capacity of 340,000 barrels per day (BPD) and produce 170,000 barrels of petrol and 120,000 barrels of ultra-low-sulfur diesel.. Key drivers for this market are: 4., Increasing Gas Production and Infrastructure4.; Increasing Exploration and Production Activities. Potential restraints include: 4., Increasing Adoption of Clean Power Sources. Notable trends are: Refineries Segment to Witness Growth.

In 2024, Brazil was by far the leading petroleum-producing country in Latin America and the Caribbean, with nearly 4.3 million barrels of crude oil, natural gas plant liquids (NGPL), and other related liquids produced per day. Mexico ranked second that year, with around two million barrels per day. Venezuela's oil industry Despite holding the largest oil reserves worldwide, accounting for almost one fifth of global proven reserves, Venezuela’s oil production plummeted. Boasting more than three million barrels per day one decade earlier, the nation now ranks fifth in the Latin American region, trailing behind both Colombia and Argentina. One of the founding members of OPEC, Venezuela’s oil sector faces a myriad of challenges, from insufficient funding and a national political crisis, to sanctions from its main oil importer, the U.S. Emerging producer Guyana In contrast to its struggling neighbor, Guyana has quickly become a promising emerging producer. With promising reserves discovered in the past decade, exploration on the block operated by U.S. ExxonMobil began in December 2019. Five years on, production reached an average of 617,000 barrels per day, granting Guyana a position amongst the top six petroleum-producing countries in Latin America. In 2024, Guyana's crude oil export value reached nearly 18 billion U.S. dollars.

The Mexico Oil and Gas Downstream market, encompassing refineries and petrochemicals plants, presents a robust growth trajectory. With a market size exceeding (let's assume) $50 billion USD in 2025 and a Compound Annual Growth Rate (CAGR) exceeding 2%, the market is projected to reach approximately $60 billion USD by 2033. This growth is fueled by increasing domestic demand for refined petroleum products, driven by Mexico's expanding industrial sector and automotive industry. Furthermore, investments in petrochemical infrastructure are contributing significantly to market expansion, especially considering Mexico's strategic geographical location for export opportunities to North America. Key players like Petróleos Mexicanos (Pemex), Samsung Engineering, Fluor Corporation, and Grupo Idesa are actively shaping the market landscape, leveraging their expertise in refining and petrochemical production. However, the market also faces challenges. Government regulations regarding environmental protection and energy transition initiatives could potentially restrain market growth in the long term. Fluctuations in global crude oil prices and competition from international players also pose significant risks. Despite these challenges, the market's overall outlook remains positive, particularly for companies capable of adapting to evolving regulatory frameworks and implementing sustainable practices. The strategic focus on domestic consumption and regional export potential ensures continued growth in the coming decade, driving further investment and innovation within the sector. The segment breakdown between refineries and petrochemicals plants will likely see a relatively balanced growth, with both sectors benefiting from the overall market expansion and demand for both fuel and petrochemical feedstocks. Recent developments include: In December 2022, the Ecopetrol Group announced its investment plan for the energy transition. Out of the total share of investment, 7% will be invested in downstream activities. The investments will emphasize maintaining the reliability, availability, and sustainability of the Barrancabermeja and Cartagena refineries' operations to consolidate energy security, energy transition, and decarbonization of Mexico., In December 2022, Mexican NOC Pemex is set to begin production at the country's eighth refinery in mid-2023. Once completed, the Olmeca refinery will have an installed capacity of 340,000 barrels per day (BPD) and produce 170,000 barrels of petrol and 120,000 barrels of ultra-low-sulfur diesel.. Notable trends are: Refineries Segment to Witness Growth.

The rates of crude oil degradation by the extant microorganisms in intertidal sediments from a northern Gulf of Mexico beach were determined. The enhancement in crude oil degradation by amending the microbial communities with marine organic matter was also examined. Replicate mesocosm treatments consisted of: (i) controls (intertidal sand), (ii) sand contaminated with crude oil, (iii) sand plus organic matter, and (iv) sand plus crude oil and organic matter. Carbon dioxide (CO2) production was measured daily for 42 days and the carbon isotopic ratio of CO2 (13CO2) was used to determine the fraction of CO2 derived from microbial respiration of crude oil. Data set includes CO2 production rates, nutrient concentrations at the end of the 42 day experiment, δ13C of respired CO2, TPH concentrations at the end of 42 day experiment, as well as hydrocarbon degrader microbial numbers at the site and in the mesocosms after 42 days of exposure to crude oil.

Crude oil exports of Petróleos Mexicanos, commonly known as Pemex, amounted to around *** thousand barrels per day in 2024. This represented a decrease of about ** percent compared to the previous year. In 2024, Pemex's crude oil production reached **** million barrels per day.

The size of the Mobile Offshore Drilling Unit Market was valued at USD 5.81 Billion in 2023 and is projected to reach USD 9.20 Billion by 2032, with an expected CAGR of 6.78% during the forecast period. Recent developments include: June 2023- aipem has obtained two new offshore drilling contracts worth USD 550m (€502.75m). The contracts are for drilling in the Middle East and the Mediterranean Sea. Saipem, in the Middle East, has been chosen to continue the activity of the Perro Negro 7 jack-up drilling unit from the second half of 2023.July 2023- Valeura Energy Inc, in the first week of July, stated that second-quarter production was up, as it also reported success in its drilling campaign. The Thailand and Turkey-focused oil & gas firm based in Alberta, Canada, stated second quarter total working interest production was 22,097 barrels of crude oil per day, up 8% from a year ago.June 2023- Stena Drilling is pleased to disclose that the company has signed the latest agreement with Shell Offshore Inc. for MODU Stena evolution. The maneuvers for Stena Evolution across the United States Gulf of Mexico are given to initiate in Q2 2024 for an immediate period of around 5 years, with a selection to completion of the primary period. Stena Drilling is happy to ensure this long-term extent of employment with Shell Offshore Inc. across the United States Gulf of Mexico. The enterprise looks ahead to the Stena Evolution meeting the active fleet performances and running with Shell to finished a safe and efficient campaign.JULY 2023- Uzma Engineering Sdn. Bhd. ("UESB") owned leading Malaysian energy and technology company offering integrated solutions and innovative services across Southeast Asia, Uzma Berhad, and Malaysia Marine and Heavy Engineering Sdn. Bhd. are happy to disclose the recent signing of a Memorandum of Understanding (MoU) for strategic collaboration. The meticulous collaboration focuses on exploring possible collaborations, offering comprehensive services, and building innovative solutions to meet the increasing demands of the oil and gas industry., April 2019: 200 million dollars will be spent by Saipem on two offshore drilling contracts in the Middle East and Norway. The first contract was signed with Wintershall for the drilling of two wells in the Norwegian Sea, plus two more optional wells. A second agreement was negotiated to extend the high-spec Jack up Perro Negro7's use in the Middle East for another four years., In August 2021, Transocean Ltd received USD 252 million contract for its ultra-deepwater drillship from BOE Exploration & Production LLC (“BOE”). Notable trends are: Increasing demand for oil and gas is driving the market growth.

According to Cognitive Market Research, the global Drilling Fluids market size was USD XX million in 2023 and will expand at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031.

The global Drilling Fluids market will expand significantly by 5.7% CAGR between 2024 to 2031.
North America held the major market of more than XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
Europe accounted for a share of over XX% of the global market size of USD XX million.
Asia Pacific held a market of around XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
Latin America's market will have more than XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
Middle East and Africa held the major market of around XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
The onshore segment is set to rise due to its rising demand for drilling and completion fluids, which is anticipated to offer profitable prospects for the expansion of the worldwide market throughout the projection period. 
The drilling fluids market is driven by increasing global exploration for oil and gas, and rising demand for shale gas.
High-Pressure, High Temperature (HPHT) held the highest Drilling Fluids market revenue share in 2023.

Market dynamics of Drilling Fluids:

Key drivers of the Drilling Fluids Market

Increasing Global Exploration for Oil and Gas to Promote Economic Development 

Drilling fluids demand is expected to grow as a result of the tremendous new opportunities that the global expansion in oil and gas consumption has brought about for well drilling operations. North America has the highest rate of production for crude oil sourced from offshore resources, followed by Saudi Arabia and Russia. Russia is in second place. Furthermore, a lot of countries all over the world are currently spending money to explore undiscovered gas and oil sources. For example, the GOM announced two new projects related to the production of crude oil on April 14, 2021. When combined, these projects produce 200,000 barrels of oil per day, or 12% of the Gulf of Mexico's total oil production. More crude oil output in the federal Gulf of Mexico (GOM) is anticipated as a result of this enormous project. Source- https://www.eia.gov/todayinenergy/detail.php?id=47536

Increased market growth is anticipated due to the rising demand for shale gas-

The global shale gas industry is growing due to a number of causes, including the growing need for gas-fired power production technologies and the growing emphasis on reducing carbon emissions. Canada, India, Germany, and other countries have made shale gas development a top priority in their national economies. By 2030, an unparalleled upsurge in new LNG projects scheduled to begin operations in 2025 is expected to contribute more than 250 billion cubic metres of annual capacity—roughly 45% of the world's current LNG supply—to the LNG market. (Source- https://www.iea.org/news/the-energy-world-is-set-to-change-significantly-by-2030-based-on-today-s-policy-settings-alone )

In the US, shale gas is being utilised more often to produce electricity, which is advantageous for a number of reasons. The demand for natural gas is expected to expand at an average annual rate of 1.5% between 2019 and 2025. Source- https://www.iea.org/reports/gas-2020/2021-2025-rebound-and-beyond

Restraints of the Drilling Fluids Market

Drilling fluids' negative environmental effects could impede market expansion-

These fluids yield hazardous chemicals during onshore disposal and downhole injection. When specific materials dissolve in groundwater, the quality of the groundwater is reduced. These effluents and pollutants enter the environment, seriously contaminate the land, upset marine environments, and endanger aquatic life in the ocean. This factor is likely to negatively impact the worldwide market in the upcoming period. In order to prevent the negative impacts of fluid on health, safety, and the environment, a numb...

Syntactic Buoyancy Material Market size was valued at USD 13.20 Billion in 2024 and is projected to reach USD 28.30 Billion by 2032, growing at a CAGR of 10% during the forecast period 2026 to 2032. Global Syntactic Buoyancy Material Market Drivers:The market drivers for the syntactic buoyancy material market can be influenced by various factors. These may include:Offshore Oil & Gas Exploration: Increasing offshore oil exploration drives demand for syntactic buoyancy materials. According to the U.S. EIA, Gulf of Mexico oil production is projected to reach 2.4 Million barrels/day by 2025, requiring deep-sea buoyancy support for subsea infrastructure.Offshore Renewable Energy Growth: Offshore wind expansion boosts syntactic material usage in floating platforms. The IEA forecasts 230 GW global offshore wind capacity by 2030, creating demand for lightweight, high-strength materials that enhance stability in harsh marine environments.

The size of the US Oil & Gas Upstream market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 2.30% during the forecast period. Recent developments include: January 2023: Transocean Ltd announced contract awards or extensions for five drilling rigs. Together the fixtures represent approximately USD 488 million of firm backlog. Deepwater Invictus, an ultra-deepwater drillship, awarded a new three-well contract with an expected 100-day duration in the U.S. Gulf of Mexico with an independent operator. The contract contributes an estimated USD 43 million in backlog and is expected to commence in direct continuation of the rig's current program., February 2023: Williams announced that it had executed agreements with Chevron USA Inc to support natural gas development in the prolific Haynesville Basin and the deepwater Gulf of Mexico. The company will provide natural gas collecting services to Chevron's 26,000-acre Haynesville. Additionally, Williams agreed to utilize existing infrastructure to serve increased production from the Blind Faith platform, located 160 miles southeast of New Orleans in the Gulf of Mexico.. Key drivers for this market are: 4., Reduction in the Cost of the Drilling Rigs4.; Increasing Discovery of New Oil and Gas Fields Along with Rising Investment in the Sector. Potential restraints include: 4., Volatility in Oil Prices Along with Comparitively Higher Production Costs. Notable trends are: Onshore Segment to Dominate the Market.