Mexico earned $857.2 million from oil exports in February 2026. This represents a monthly increase of 67.6% but is still 34.4% lower than the same period in 2025. Oil exports saw a monthly recovery of 75.8%. Before the outbreak of the conflict in the Middle East, the average export price for Mexican crude was $59.13 per barrel, a level that is 69.1% below the current price of the Mexican mix, which is around $100 per barrel. The selling price of Mexican 'black gold' is 82.1% above the forecast by the Ministry of Finance and Public Credit (SHCP), which had projected an average price of $54.9 per barrel for 2026. The 2026 Economic Package stipulates that for every additional dollar in the oil price, approximately $11.6 billion in extra oil revenues is generated. Pemex could take advantage of the global rise in crude oil prices if it manages to continue increasing its oil production and reverses its internal policy of cutting oil exports to be able to supply the country's refineries. The production of liquid hydrocarbons by Petróleos Mexicanos (Pemex) was 1 million 646 thousand barrels per day in February, representing an annual increase of 1.6%, according to the company's operational report. Pemex's crude extraction has been on the rise for three consecutive months, in a context of a rebound in international oil prices due to the war in the Middle East between Donald Trump and Iran. Regarding external sales, crude oil exports were 517.7 thousand barrels per day in February.
