crude

Pemex revealed it sold Mexican oil in USD -$2.37 per barrel

Trump announced his country will help Mexico to fulfill an agreement that established all countries must cut their oil output to stabilize the market

Last Saturday, in a move expected to send oil prices soaring and increase tensions in the Middle East, two main facilities of Saudi Arabia’s oil industry were attacked by Yemen’s Iran-aligned Houthi group

López Obrador said that once Pemex increases its oil output, it will produce resources to promote the country's development

Fuel thefts through illegal taps in the company's sprawling network of pipelines have been an ongoing problem at Pemex, which reported more than 5,000 robberies of fuel in 2015.

"We are expecting Mexico's imports from the U.S. to increase to an average of 900,000 barrels per day (bpd) in 2017..." said the head of oil products research at Energy Aspects.

Oil prices soared to their highest in over a month on the news of the deal.

According to a Pemex official, 2.5% of Mexico's entire oil output is stolen, which translates to over 1 billion dollars in losses per year for the country.

Despite the positive news for the Mexican oil giant, Mexico's oil output has fallen for a dozen years since hitting a peak in 2004

Exports will depart to the US from the Salina Cruz port in Oaxaca