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Oil price increase will not affect Mexico, president says

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Oil price increase will not affect Mexico, president says

Mexico, Mar 8 (Prensa Latina) Mexico will not have any problems due to the increase in oil and fuel prices, nor those of electric energy, despite the war in Ukraine, President Andres Manuel Lopez Obrador noted on Tuesday.
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The president was approached on the subject during his daily morning press conference at the National Palace and answered that, indeed, the international market prices of these items affect the world.

There are imbalances in the fuel market due to the measures and sanctions against Russia, and this has led to an increase in the international price of crude oil, and the Mexican mix, which was below 100 dollars a barrel, has already risen to 116, a high price with a tendency to continue increasing, he added.

It does not affect us, he repeated, although we do not want it to, because it does affect the economies of the world and that is not good. Only 20 countries in the world have oil and we are fortunate to be among that group.

We reactivated production and we are already above the figures we received and as investments have been made we have enough reserves, oil is being exported and we are obtaining surpluses, Lopez Obrador pointed out.

The head of State stated that Europe is already suffering a lot with these gas and energy price increases, that is why promoting the electric reform in Mexico is so important.

Lopez Obrador called for a settlement and end of the war in Ukraine, “it would be the best thing, because measures and sanctions are being taken that have to do with oil and gas and everything could get complicated because Europe depends a lot on Russian gas and Russia in turn depends on the sale of its oil.

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