Mexico Is Now A Net Importer Of Crude Oil From The US -- December 26, 2016

Updates

December 22, 2016: US refiners cash in on Mexico's record fuel imports. Data points: 

• let's start with this: the world's fourth-largest consumer of gasoline
• car sales? September, 2016: car sales increased 18% year-on-year, to a record 1.2 million units for the month 
• US shipping record volumes of fuel to Mexico; transportation costs practically "nil"
• Mexico failed to expand its refining network to meet fast-growing economy
• fuel trade could top one million bopd at times in 2017
• Mexico becoming increasingly dependent on the US for energy
• refiners cashing in: Valero, MRO, Citgo 
• Mexico's economy: has expanded for 27 quarters in a row but unable to increase its refining output to meet demand
• in 2016: crude exporter Mexico will be a net importer from the US for the first time as shipments of refined fuel heading south outnumbers shipments of crude heading north
• just ten years ago, the US saw net oil imports from Mexico at 1.45 million bopd
• and, for Mexico it's only going to get worse as the govt cuts funding for Pemex 

Original Post

Completely off my radar scope:

• Mexico's gasoline demand growing faster than that in the US;
• Mexico's automobile sales surging;
• global glut of crude oil;
• excess gasoline to the country north of them; and,
• Mexico is suffering gasoline shortages and long lines at gas stations.

The story is here.

But bad editing ...

Reminds me of my blog. 😒