Mexican Basket
Mexican Basket Price
| Date | Price US$ per bbl | Price US $ per MT | Long Tons | US Gallons,$ |
|---|---|---|---|---|
| 2023-02-16 | $69 | 504 | 513 | 1.64 |
| 2023-02-15 | $69 | 506 | 514 | 1.64 |
| 2023-02-14 | $69 | 509 | 518 | 1.65 |
| 2023-02-13 | $70 | 516 | 524 | 1.67 |
| 2023-02-10 | $70 | 513 | 521 | 1.66 |
| 2023-02-09 | $68 | 500 | 508 | 1.62 |
| 2023-02-08 | $69 | 503 | 511 | 1.63 |
| 2023-02-07 | $67 | 493 | 501 | 1.6 |
| 2023-02-06 | $64 | 472 | 480 | 1.53 |
| 2023-02-03 | $64 | 466 | 474 | 1.51 |
| 2023-02-02 | $66 | 483 | 490 | 1.57 |
| 2023-02-01 | $67 | 488 | 496 | 1.59 |
| 2023-01-31 | $69 | 503 | 512 | 1.63 |
| 2023-01-30 | $68 | 502 | 510 | 1.63 |
| 2023-01-27 | $70 | 514 | 523 | 1.67 |
| 2023-01-26 | $70 | 514 | 523 | 1.67 |
| 2023-01-25 | $70 | 512 | 520 | 1.66 |
| 2023-01-19 | $70 | 512 | 521 | 1.66 |
| 2023-01-18 | $69 | 507 | 515 | 1.65 |
| 2023-01-17 | $70 | 511 | 519 | 1.66 |
| 2023-01-13 | $69 | 505 | 514 | 1.64 |
| 2023-01-12 | $68 | 495 | 503 | 1.61 |
| 2023-01-11 | $66 | 486 | 493 | 1.58 |
| 2023-01-10 | $64 | 468 | 476 | 1.52 |
| 2023-01-09 | $64 | 465 | 473 | 1.51 |
| 2023-01-06 | $63 | 458 | 466 | 1.49 |
| 2023-01-05 | $62 | 458 | 465 | 1.49 |
| 2023-01-04 | $62 | 452 | 459 | 1.47 |
| 2023-01-03 | $66 | 483 | 491 | 1.57 |
| 2022-12-27 | $69 | 507 | 515 | 1.65 |
Mexican Basket Historical price
- In 2021 maximum price $71 per bbl (2021-12-29)
- In 2022 maximum price $69 per bbl (2022-12-27)
- In 2023 maximum price $69 per bbl (2023-02-16)
Mexican Basket Crude Oil: A Comprehensive Overview
Mexican Basket Crude Oil is one of the most important benchmarks for oil prices in Mexico and the wider Latin American region. It is an average of the prices of different crude oil grades produced in Mexico and serves as a reference point for the price of oil in the country. In this article, we'll dive deep into the history, composition, and significance of Mexican Basket Crude Oil.
The History of Mexican Basket Crude Oil
The concept of using a basket of different crude oil grades as a benchmark for oil prices in Mexico was first introduced in the 1990s. The Mexican government wanted to create a transparent pricing system for its oil exports and decided to use an average of the prices of different grades of oil produced in the country. The Mexican Basket Crude Oil was officially launched in 1997 and has since become a key reference point for the oil industry in Mexico and the wider Latin American region.
The Composition of Mexican Basket Crude Oil
Mexican Basket Crude Oil is an average of the prices of different crude oil grades produced in Mexico. The basket includes five different grades of crude oil, each with a different weighting in the average. The five grades of oil included in the basket are:
- Maya crude oil (40%)
- Isthmus crude oil (30%)
- Olmeca crude oil (20%)
- Mexilon crude oil (5%)
- Litoral crude oil (5%)
The weightings of each grade in the basket are determined by their relative production levels in Mexico and their quality characteristics. The composition of the Mexican Basket Crude Oil is reviewed periodically to ensure it accurately reflects the market conditions and the relative importance of different grades of oil in Mexico.
The Significance of Mexican Basket Crude Oil
Mexican Basket Crude Oil is a critical benchmark for the oil industry in Mexico and the wider Latin American region. It serves as a reference point for the price of oil in the country and provides a transparent pricing system for Mexican oil exports. The Mexican Basket Crude Oil is widely used by oil companies, investors, and governments as a benchmark for the price of oil in the region. It also provides a valuable source of information for market participants, helping them make informed decisions about the price of oil in Mexico and the wider region.
In conclusion, Mexican Basket Crude Oil is an important benchmark for oil prices in Mexico and the wider Latin American region. Its history, composition, and significance make it a critical reference point for the oil industry in the region, providing a transparent pricing system for Mexican oil exports and valuable information for market participants.
Frequently Asked Questions about Mexican Basket Crude Oil
Mexican Basket Crude Oil is a complex and important benchmark for the oil industry in Mexico and the wider Latin American region. Here are some frequently asked questions about this benchmark.
What is Mexican Basket Crude Oil?
Mexican Basket Crude Oil is an average of the prices of different crude oil grades produced in Mexico. It serves as a reference point for the price of oil in the country and provides a transparent pricing system for Mexican oil exports.
What are the different grades of crude oil included in the Mexican Basket Crude Oil?
The Mexican Basket Crude Oil includes five different grades of crude oil, each with a different weighting in the average. The five grades of oil included in the basket are: Maya crude oil (40%), Isthmus crude oil (30%), Olmeca crude oil (20%), Mexilon crude oil (5%), and Litoral crude oil (5%).
How is the composition of the Mexican Basket Crude Oil determined?
The composition of the Mexican Basket Crude Oil is determined by the relative production levels of different grades of oil in Mexico and their quality characteristics. The weightings of each grade in the basket are reviewed periodically to ensure they accurately reflect market conditions and the relative importance of different grades of oil in Mexico.
Who uses Mexican Basket Crude Oil as a benchmark?
Mexican Basket Crude Oil is widely used by oil companies, investors, and governments as a benchmark for the price of oil in Mexico and the wider Latin American region. It provides valuable information for market participants, helping them make informed decisions about the price of oil in the region.
What is the significance of Mexican Basket Crude Oil?
Mexican Basket Crude Oil is a critical benchmark for the oil industry in Mexico and the wider Latin American region. It provides a transparent pricing system for Mexican oil exports and valuable information for market participants. The benchmark is widely used as a reference point for the price of oil in the region and helps ensure a level of transparency and stability in the oil market.
Further Information about Mexican Basket Crude Oil
For those who are interested in learning more about Mexican Basket Crude Oil and its importance as a benchmark in the oil industry, there are a number of resources available online.
The Mexican Ministry of Energy is a good starting point for information on the Mexican Basket Crude Oil, including its composition and methodology. The Ministry provides detailed information on the five different grades of oil included in the basket, as well as regularly updated data on the average price of the benchmark.
In addition, there are a number of industry websites and research firms that track and analyze the Mexican Basket Crude Oil and provide valuable insights into the oil market in Mexico and the wider Latin American region. These sources can provide in-depth analysis of the benchmark and its significance for market participants, as well as up-to-date data on the latest developments in the oil industry in Mexico.
Whether you are an oil industry professional, an investor, or simply someone with an interest in energy markets, the Mexican Basket Crude Oil is an important benchmark to keep an eye on. With the right resources and information, it is possible to gain a deeper understanding of this important benchmark and its significance for the oil industry in Mexico and the wider Latin American region.
Mexican Ministry of Energy Oil Price Energy Intelligence
