Petroleos Mexicanos posted its 11th consecutive quarterly loss as a series of accidents combined with a collapse in oil prices to batter the state-run producer’s earnings. The company’s net loss widened to 84.6 billion pesos ($5.2 billion) in the second quarter from 53 billion pesos a year earlier, Pemex, as the Mexico City-based producer in known, said in a statement Thursday. Sales slid 24 percent to 308.9 billion pesos as output fell to the lowest level in 24 years. Pemex’s earnings were crimped after U.S. benchmark oil prices fell an average 44 percent from 2014 and production slid following three offshore accidents in as many months. Production averaged 2.23 million barrels a day in the quarter, a 9.8 percent decrease from a year earlier, and has declined for 10 straight years since reaching 3.3 million in 2004. “We continue to face the effects of the accident at Abkatun along […]