Pemex revises December crude pricing constants for overseas buyers
Mexico's Pemex has updated price constants for its Maya, Zapoteco, Istmo and Olmeca grades for buyers in the Americas, Europe, India and the Far East.
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what happened
Mexican state oil company Pemex has revised the term pricing formulas it uses for crude sold to customers in the Americas, Europe and Asia. Its trading arm, PMI Comercio Internacional, announced the changes on Friday, according to Reuters.
The adjustments cover the flagship Maya grade and the Zapoteco, Istmo and Olmeca grades, sorted by destination region. For most destinations, the December constants are lower than November's, with a sharper drop for India and the Far East. There are exceptions: the Zapoteco constant for the US West Coast rose, while the Istmo and Olmeca constants there moved into negative territory.
why it matters
The constant is part of how a grade's price is set against a benchmark, so a lower constant means a deeper discount for the buyer. For the market in heavy Mexican crudes, the table shows how Pemex is adjusting its pricing for each region heading into the next month.
market impact
Maya and other Pemex grades: lower constants mean bigger discounts for buyers, pressuring their prices
- Maya crude pressure down — December constants are below November's in most destination regions
tags
instruments
sources
- Mexico's Pemex sets December crude oil prices for international buyers — Reuters, 13 November 2026 at 20:50 UTC
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