Mexico's oil forecast up 75 percentStaff writer ▼ | August 27, 2014
Mexico could be producing 3.7 million barrels per day of oil and other petroleum liquids by 2040, according to the Energy Information Administration's report.
Reforms Energy Information Administration reports:
The difference is the recent energy reforms approved by the Mexican government and signed into law by Enrique Pena Nieto that open the country up to foreign investment and development. Previously, state-owned Pemex has had a 75-year monopoly on energy development in the country.
Currently, Mexico produces 3 million barrels per day of oil and other liquids, which puts it on par with Texas. ■