Drop In Oil Prices Would Mean Big Losses For 2002 Mexican Budget.

MEXICO CITY, Nov 23, 2001

For every dollar that the Mexican government lowers its estimated price of oil for 2002, the government will give up 666 million dollars, or 6.728 billion pesos, in expected revenues, reported Mexico City daily el Universal. This is double the amount that would be collected next year through the taxation of alcoholic drinks. Under the current budget plan, the Mexican blend of crude will average 17 dollars, and the country will export an average of 1.825 million barrels per day. Analysts say that both the price and volume estimates are optimistic. The current price of Mexican crude is close to 13.30 dollars, and average daily exports between January and September were 1.714 million barrels per day.

URL: www.securities.com

Copyright 2001 Internet Securities, Inc., all rights reserved. A Euromoney Institutional Investor Company.

  SUBJECT CODE:     Enpet 

News Provided by COMTEX (http://www.comtexnews.com)