Mexico Oil and Gas Market: Trends, Insights, and Forecast 2023 - 2030
The Mexico oil and gas market size is expected to reach USD 243.50 billion by 2030, registering a CAGR of 3.4% over the forecast period, according to a new report by Grand View Research, Inc. Mexico's demand for oil & gas is anticipated to increase as a result of government subsidies and the liberalization of fuel prices. Additionally, it is anticipated that cooperation between Mexico and European nations for natural gas trading and the natural gas shortage experienced by European nations due to the conflict in Russia and Ukraine will further influence the oil and gas market growth. Due to the adoption of horizontal drilling and hydraulic fracturing techniques by oil and gas companies in Mexico, natural gas and crude oil production is increasing.The transportation and power generation industries are the main final consumers of crude oil and natural gas. There are reputable local and international players in the Mexican oil and gas market. Due to the intense...