Mexico’s Nationalist Policies Squeezing Oil Trade Margins ...Middle East

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Mexico’s Nationalist Policies Squeezing Oil Trade Margins
source : OILPRICE ( Middle East ) () 24
One of the world’s largest oil traders, Trafigura, has been forced to scale back its oil trading business in Mexico thanks to the country’s nationalist policies taking a toll on margins. Trafigura has recorded margin compression due to fuel subsidies the Mexican government announced last year to help the country cope with inflation. The subsidies mark yet another setback for the commodities trading firm, following the cancellation of its fuel-import license and ban  from doing business with Petroleos Mexicanos’s…

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