Thursday, August 29, 2013

Future Silver Supply in Question as Mexico Oil Production Declines

by Steve St. Angelo
SRSRocco Report

The largest silver producing country in the world saw its oil production decline to the lowest level since 1995. Mexico who produced 162 million ounces of silver in 2012 is slated to increase this substantially by the end of the decade… that is, if they have the available energy to do so.
If we look at the chart below, we can see just how much Mexico’s oil production has declined since 2000:
[...] The last plot line on the chart was for June 2013 which was approximately 2.51 mbd (million barrels a day). However, according to PEMEX, Mexico’s state-run oil company, in the month of July its production of crude & condensate declined to 2.48 mbd.
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