Mexico’s Pemex reported its oil production grew last year, for the first time in fifteen years. However, there’s a big catch—the increase was only a result of how the company is counting barrels, Bloomberg reports . And anyone trying to compare production figures from year to year will run into a problem of comparing apples to oranges. The change in calculations is pretty straightforward; Pemex simply started adding gas condensate output to the total crude oil production it counts. Without condensates, Pemex and its partners produced 1.66 million bpd of oil last year, down 1 percent on 2019. With condensates, oil production was 0.23 percent higher last year. The boost was made possible by new condensate discoveries that added 46,000 barrels daily to Pemex’s condensate production: a twofold increase. A positive as this is, it is questionable whether the condensate production increase should actually count towards the company’s total […]