The Saudi Arabia – Russia oil price war and coronavirus-linked demand reduction has introduced challenges for Pemex, Mexico’s state-owned oil firm. Mexico’s oil exports have held steady recently, being unchanged in February versus the prior three months’ average. Yet, an 11.5% slide in shipments to the U.S. has left Pemex more reliant on Indian customers whose imports from Mexico climbed 78.3% over the same period. India’s new lockdown may cast doubt on those exports going forward. There’s also been a drop in Mexican imports of refined oil products of 18.5%. Valero and ExxonMobil have bu...