AFP, Mexico City :
Mexico on Saturday refused to extend a cut in oil production to the end of July which was agreed by OPEC members and other key producers.
The Organization of the Petroleum Exporting Countries and its allies agreed on Saturday to extend through July the historic output cuts for May and June.
But during a visit to a petrochemical plant in Veracruz state, Energy Minister Rocio Nahle told reporters that Mexico would not comply.
“There are other countries that extended the cuts to July. We told them no, that we are maintaining the agreement signed in April. There is no problem,” she said.
She said Mexico “fully respected” the original agreement, under which it agreed to cut production by 100,000 barrels a day in May and June, but other countries “did not respect it,” without specifying which ones.
The minister said Mexico had made its position known to its partners before the start of negotiations on Friday morning.
Mexico on Saturday refused to extend a cut in oil production to the end of July which was agreed by OPEC members and other key producers.
The Organization of the Petroleum Exporting Countries and its allies agreed on Saturday to extend through July the historic output cuts for May and June.
But during a visit to a petrochemical plant in Veracruz state, Energy Minister Rocio Nahle told reporters that Mexico would not comply.
“There are other countries that extended the cuts to July. We told them no, that we are maintaining the agreement signed in April. There is no problem,” she said.
She said Mexico “fully respected” the original agreement, under which it agreed to cut production by 100,000 barrels a day in May and June, but other countries “did not respect it,” without specifying which ones.
The minister said Mexico had made its position known to its partners before the start of negotiations on Friday morning.
