In 1976, Mexico discovered one of the world’s truly great oilfields, Cantarell, in the Bay of Campeche west of Yucatan. The discoveries vaulted Mexico to No. 1 among all suppliers of oil to the U.S. during 1982-86. Mexico has been among the top three suppliers ever since, averaging about 1.5 million b/d since 2000 and 1.8 million b/d in the first half of 2006. Cantarell’s phenomenal production made this possible. The figure below shows Mexico’s oil production since 1965 and the dominance of these discoveries.
In 1976, Mexico discovered one of the world’s truly great oilfields, Cantarell, in the Bay of Campeche west of Yucatan. The discoveries vaulted Mexico to No. 1 among all suppliers of oil to the U.S. during 1982-86. Mexico has been among the top three suppliers ever since, averaging about 1.5 million b/d since 2000 and 1.8 million b/d in the first half of 2006. Cantarell’s phenomenal production made this possible. The figure below shows Mexico’s oil production since 1965 and the dominance of these discoveries.