Mexican oil fell to $ 13 per barrel

US, WASHINGTON (ORDO NEWS) — The average cost of a Mexican oil mixture for deliveries to various regions fell at auction on Friday to $ 13.01 per barrel, Pemex Oil Corporation reported on its website.

The fall in prices below the level of the 2000s is taking place against the backdrop of a decline in oil demand caused by the pandemic of the new coronavirus and a global drop in production.

On the eve it became known about the revision of the sovereign and credit ratings of Mexico and the Pemex oil corporation, downgraded from BBB + to BBB with a negative outlook of up to 2 years.

Standard & Poor’s explained the downgrade by the indecisive policy of the Mexican authorities in the fight against the spread of COVID-19 and the expectation of a strong economic downturn in the country.

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