Mexico's oil production has fallen to levels not seen since the late 1970s.

Jin10 data reported on July 2 that Mexico’s oil production is sharply declining to levels not seen since the late 1970s, posing a threat to U.S. refiners, particularly during the summer driving season when Mexican oil is most needed. The drop in production, along with the expansion of Mexico’s largest refinery, Dos Bocas, has reduced oil supplies to international markets. According to shipping reports and vessel movements compiled by foreign media, Mexico’s export volume in June plummeted to 529,000 barrels per day, a historic low. Mexico’s average daily oil production this year is 1.621 million barrels, which will set a new low since 1979, when the Cantarell oil field first began producing oil. Mexico has failed to discover any oil fields of the scale of the Cantarell oil field, which has 35 billion barrels of oil.