The Mexican blend reduces its "bad run" and approaches 64 dbp

Mexican oil recorded a slight gain of 13 cents from its previous level and returned its price to $ 63.99 per barrel, according to information from Petróleos Mexicanos ( Pemex ).

According to the daily analysis of Banco Base, the blend Mexican and the major benchmark gross ended the session with gains in the hope that demand for crude oil could rise , due to a decrease in gasoline inventories in the United States.

The above came about after the publication of the weekly report of the energy sector of the Energy Information Administration in the United States ( EIA ), which showed a reduction in inventories of gasoline of 3.16 million barrels, due to the decline in hydrocarbon production, coupled with an increase in demand for the beginning of the holiday period.

This reduction in the stocks of gasoline led to WTI to record a gain of 68 cents, to sell at 68.76 dollars a barrel, while Brent increases 74 cents a barrel. dollar and bid at $ 72.90.

The financial institution pointed out that despite the decline in gasoline production given the rise in the price of crude oil, the market expects that refineries will be inevitably forced to increase their refining, consuming more crude.

According to the EIA, gasoline production decreased by 1.31% to 10.04 million barrels per day, while implicit demand rose weekly from 433,000 barrels per day to 9.71 million barrels a day.

However, oil prices may record a change in trend due to the rebuilding of stocks of US crude oil (which rose 5.8 million barrels the previous week) and a oil production to record levels (11 million barrels), which, combined with higher production in Saudi Arabia, provides a rebound in the global supply of crude oil.