2/10/2017 United Press International
U.S. crude oil exported to Mexico is one of the more lucrative commodities for North American energy trade, the U.S. Energy Department reported.
A daily briefing from the Energy Department’s Energy Information Administration reported that total energy exports to Mexico last year was one of the more valued exports in North America.
While the situation could change in the future because of amendments to rules governing U.S. crude oil exports, the EIA said Mexico is currently second only to Canada when it comes to total trade in energy products.
“For 2016, the value of U.S. energy exports to Mexico was $20.2 billion, while the value of U.S. energy imports from that country was $8.7 billion,” the government brief read.
Last year, energy products represented around 9 percent of all U.S. exports to Mexico and 3 percent of all U.S. imports from Mexico. The United States last year sent on average a half million barrels of crude oil per day to Mexico. Meanwhile, Mexico is the fourth-largest exporter or crude oil to the United States, behind Venezuela.