Overview
- Mexico approved the export after a call between President Claudia Sheinbaum and Prime Minister Sanae Takaichi that ratified Japan’s request.
- Pemex Internacional, the trading arm of the state oil company, will arrange deliveries over a set period with pricing and schedules still undisclosed.
- The volume equals only a few days of Mexico’s exportable surplus based on output near 1.8 million barrels per day and domestic refinery use of about 1.3 to 1.4 million.
- Sheinbaum said the United States remains a key buyer for reserves, while this sale responds to Japan’s current supply needs.
- The leaders also discussed expanding trade in manufacturing, technology, and autos, and Mexico’s rare sales to Japan suggest a broader buyer mix as Middle East flows tighten.