Carlos Slim, Mexico’s wealthiest individual, has identified the ongoing crisis at state-owned oil company Pemex as the most pressing issue facing the nation. With Pemex grappling with declining oil production, significant debt, and insufficient investment, the implications extend beyond Mexico’s borders, potentially affecting global oil markets.
The company’s debt stands at approximately $85 billion, and it reported losses of around $2.5 billion in 2025. Slim argues that without increased production, which he estimates could rise by 800,000 barrels per day with new investments, Mexico’s economic stability could be at risk.
The Mexican government is currently providing substantial financial support to Pemex, but the effectiveness of this bailout remains uncertain. As Slim has pointed out, the focus should be on revitalising oil production to ensure economic growth and stability.
For the UK, this situation serves as a reminder of how interconnected global economies are. Fluctuations in oil production and prices in Mexico can influence energy costs and economic conditions in the UK, affecting everything from household bills to transport costs.
Source: Euronews
