Mexico Heavy Crude Cut to Squeeze U.S. Gulf Refiners

Reuters reports that U.S. Gulf Coast oil refineries face a profit crunch this summer as Mexico is poised to reduce exports of the region’s benchmark heavy crude.

The market news is quoted as saying:

Mexico remains the top heavy crude supplier to the Gulf Coast despite a five-year output slide. But it will cut shipments of Maya blend crude by at least 110,000 barrels per day once a long-delayed expansion of its Minatitlan refinery is completed

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