Mexico relies on US as oil supply falls and gas demand rises
As its oil production keeps falling, Mexico is turning to natural gas to diversify its energy supply and fuel economic growth. Increasingly, it is relying on booming US supplies to do the job
According to the World Bank, Mexico's economy grew at an impressive 3.9% in 2012 and is on track to post growth of 3.5% in 2013. Yet 52 million people - almost half of the population - live in poverty. Another 11.7m, or 10%, live in "extreme" poverty, earning less than $76 per month. President Enrique Peña Nieto took office in December 2012 promising to increase living standards. But falling oil production, historically the mainstay of the country's export revenues, is threatening his ambition. In 2010, oil accounted for 14% of export earnings and 32% of government revenues, according to the Mexican central bank. Rising crude prices have offered some relief. The value of Mexican oil exports
Also in this section
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026






