Fitch Ratings downgraded its outlook for Mexico’s sovereign debt on Wednesday with the catalyst the decision by president-elect Andrés Manuel López Obrador to cancel a $13bn new airport project this week.
Mexico Oil and Gas Reserves Now Down 40% In A Decade
Proven oil and gas reserves in Mexico are now down 40% in just 10 years, falling again this year by 7% as new discoveries fail to keep up with production. Reserves sat at 8.483 billion barrels at the end of 2018.