Supply Chain Research

Mexico’s state-owned oil company, Pemex, will reduce its imports of refined oil products through the end of 2020. The firm is already reportedly in receipt of state aid as well as having declared force majeure on imports earlier. The troubles are largely due to a slump in demand linked to the COVID-19 pandemic as well as the collapse in crude oil prices. Pemex’s Mexican imports of refined oil products already fell in March with a 15.4% year over year drop in gasoline and a 14.0% slide in distillates shipments. While Pemex’s imports have been in decline, others have improved. Shipments li...