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To: quadrant
That would agree with the statement from the WSJ article that was posted a week ago.

At the same time, aging fields and sluggish investments have caused exports to drop significantly in Mexico, Norway and, most recently, Russia. The Organization of Petroleum Exporting Countries also cut production early last year and didn't move to boost supplies again until last fall.

But it still doesn't account for the local refinery taking shipments of Mexican crude and statements to the effect that Mexico had more crude than they could get rid of.

12 posted on 05/31/2008 2:06:52 PM PDT by Eva (CHANGE- the post modern euphemism for Marxist revolution.)
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To: Eva
Refineries tend to take crude from whatever source is available, oil being a very fungible product.
And Mexico may have a temporary surplus of crude due to lack of refining capacity.
15 posted on 05/31/2008 2:16:52 PM PDT by quadrant
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To: Eva

Take a look at Mexico’s refinery capacity. They may not have the ability to refine what crude oil they pump and have to do something with it.


24 posted on 05/31/2008 5:40:59 PM PDT by count-your-change (you don't have to be brilliant, not being stupid is enough.)
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