Mexico’s oil trade surplus has vanished. It maxed out at
US$19.4 billion in 2006, falling into single digits in 2013 for the first
time in eleven years. The decline became a rout last year when the oil surplus
plunged to just US$1.1 billion. In the first nine months of this year, the
surplus turned into a US$7.0 billion deficit. It’s the first deficit in central bank's oil trade balance series that begins in 1993.
