Crude Oil Price | Mexico — Q4 2023
Check how the Crude Oil price evolved in Mexico, from Q4 2022 to Q4 2023.
The Crude Oil price in Mexico increased during Q4 2023 to 82.6 USD per Bbl, which represents a considerable rise of 8.1% compared to the previous quarter’s value. On a year-over-year basis, Crude Oil prices in Mexico increased by 5.8%.
The chart below shows quarterly Crude Oil prices, in USD per Bbl in Mexico and other selected countries in Americas.
For further information on the pricing of Crude Oil, including:
- Current prices, on a monthly basis
- 10-year historical pricing data
- Short-term Price Forecasts
Check below:
▶ https://www.intratec.us/products/energy-price-references/commodity/crude-oil-price-mexico
Wouldn’t it be great to be able to monitor 13 key energy commodities in as many as 33 strategic countries worldwide?
Click below and benefit from this offer:
▶ https://www.intratec.us/products/energy-price-references
A Little Bit About Crude Oil
Crude Oil is a naturally occurring, highly complex mixture, containing primarily paraffinic, cycloparaffinic, and aromatic hydrocarbons. Petroleum is a yellowish to black liquid, with apolar characteristics, formed millions of years ago, through biological processes in organic deposits. It is mostly found in geological formations beneath the Earth’s surface although it can be found in porous rocks above it. Crude Oil has many possible classifications, varying by country. The most used are based on the geographic location where it is produced/extracted, its API gravity, and its sulfur content.
Crude Oil has been used since ancient times, but it only became important with the invention of the internal combustion engine and the rise in aviation history. Currently, there are countries’ economies based on petroleum market, and it is estimated that the world consumes hundreds of millions of crude oil barrels every day. Petroleum is considered by many as the most important chemical worldwide, since it is the source of almost all fossil fuels, plastics/rubbers/resins, and an uncountable number of organic compounds. Part of Crude Oil is commercialized through spot trade, in which the commodity can be purchased for immediate delivery.
Petroleum is transported depending on the quantity and the destination. For bulk quantities, the most common ways are via pipelines (well to refineries/storage facilities), marine vessels (ocean transportation), rail cars (landmass transportation, usually in DOT-11 cars, holding 34,500 US gallons), and trucks (land transportation, ranging from 400 to 7,500 US gallons). The biggest problems associated with its transportation are pollution and leakage/spilling, since the mixture is very toxic to living animals and the environment as a whole. Crude Oil is flammable, so it should be kept away from heat, sparks, flames, or other sources of ignition. Usually, petroleum is not stored in its crude form: it is refined to its derivatives.
Crude Oil is one of the most important raw materials for industry. It is employed as a building block for the chemical industry, for fuel production, for plastic/rubber/resin manufacture, as well as to produce waxes, asphalt, and lubricants. This commodity can be used in the manufacture of derivatives, such as: gasoline; diesel; fuel oil; propane; liquified natural gas; liquified petroleum gas; butane; naphta; petroleum asphalt; paraffin wax; great variety of organic chemicals (hydrocarbons, aromatic compounds, alcohols, etc).
About Intratec Solutions LLC
Intratec is a leading B2B provider of commodity strategic data and analyses. We are an online business whose mission is to provide reliable information about commodities, empowering companies to make accurate, high value-added decisions.
For more information, visit www.intratec.us
