Mexico has emerged as the most important supplier of crude oil for India. In fact, India is the third biggest market of Mexican crude oil and there is a great potential for it to grow further. Its export to India in this commodity has always been rising however in terms of value it shows fluctuation because of international prices. Mexico is one of the top oil producers in the with its production at 110 mt.
According to the Indian ambassador to Mexcio, Mukhtesh Pardeshi, “Mexico has become a reliable partner in our energy security. The country has exported $ 3.73 billion of crude oil to India with an increase of 36% over the previous year. In 2010, Mexico exported 8.36 million barrels, which rose continuously to 50.89 million barrels in 2017 to India.”
“Unfortunately, the Mexican export basket is not very diversified and 75% of the basket is occupied by crude oil,” he adds.
