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(Bloomberg News) - Mexico's oil output will probably decline in the next two years if the country doesn't allow foreign investment to boost drilling, according to Raymond James & Associates. Production in Mexico may have peaked in 2004, analysts J. Marshall Adkins and Pavel Molchanov wrote in a report last month, because the 30-year-old Cantarell field, one of the world's largest, has reached maximum output, they said. Petroleos Mexicanos, the state oil company, said last week that Cantarell production will decline 8 percent this year. Link |
