Mexico president rejects suggestion U.S. could ask it for oil

MEXICO CITY, March 10 (Reuters) – Mexican President Andres Manuel Lopez Obrador said on Thursday he did not expect the United States to seek more oil from Mexico, and said market turmoil following Russia’s invasion of Ukraine showed he was right to pursue energy self-sufficiency.

Speaking at a regular news briefing, Lopez Obrador said “no, no, no” when a reporter shouted out a question to him about whether the United States is asking Mexico for more oil.

The president then quickly moved away from the subject and reiterated his thanks to the U.S. government for approving Mexico’s purchase of the Deer Park refinery in Texas. read more

A spokesperson for Lopez Obrador’s office did not immediately reply to a request to clarify his answer.

Lopez Obrador, who has moved to strengthen state control of energy and revive national oil company Petroleos Mexicanos (Pemex), said market events were proving the wisdom of his efforts to make Mexico self-sufficient in energy.

International crude oil has hit 14-year highs because of concerns of supply tightness linked to major energy producer Russia’s invasion of Ukraine that began on Feb. 24.

Lopez Obrador’s government plans to sharply reduce oil exports this year and end them in 2023. read more

Pemex data for January showed crude exports were down to 832,216 barrels per day (bpd) from around 1 million bpd on average during 2021.

Lopez Obrador has said repeatedly that gasoline costs should not go up for Mexican consumers, and that a windfall from higher international prices will be used to subsidize fuel.

Reporting by Valentine Hilaire
Additional reporting by Ana Isabel Martinez
Editing by Dave Graham and Barbara Lewis

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