Pemex facing gas production crisis as it barely meets internal demand

Mexico's state-owned oil company Pemex is barely meeting it's internal demands for gasoline in central Mexico, which includes Hidalgo, the State of Mexico, Morelos, Puebla, Querétaro and Mexico City. This market represents approximately 9 million of the country's 29.8 total estimated vehicles.

Between February and August, the country's National Refinery System has cut production of its Magna gasoline product, the most used in the country, by almost 30%.

This translates, according to reports released by Pemex, into a cut in production of approximately 119,800 barrels of Magna per day over this 7-month period.

Furthermore, Mexico's demand for Magna was 642,000 barrels per day, which means that there is a deficit of about 362,100 barrels per day.

Production is expected to continue to fall, with September marking the lowest volume of production not only in 2016, but in the last 30 years.