Mexico Slashes Pemex Support Up to 70% on Oil Rally Cash Surplus

Mexico's government is cutting financial support for Pemex by up to 70%, betting on a rare cash surplus of ~$5.63B from higher oil prices driven by the U.S.-Israel-Iran conflict. This marks a significant policy shift, as Pemex still struggles with debt and production. The move exposes Pemex to oil price volatility and could strain Mexico's fiscal position if prices fall.