Mexico cut its forecast for oil production at Petroleos Mexicanos next year and reduced its tax burden after a string of accidents at offshore platforms signaled the highly indebted state company is struggling. The country’s Finance Ministry lowered a preliminary estimate for crude output in 2022 to 1.826 million barrels a day, from a March 31 forecast of 1.867 million, according to a draft of next year’s budget proposal. It’s also reducing the profit-sharing duty that Pemex has to pay the government to 40% next year, from 54% in 2021. Pemex, as the state oil giant is known, posted a production increase last year after including a light oil known as condensate in its overall crude tally, and measuring output at a warmer temperature than government regulators. But the company continues to face output declines and reduced exports of its flagship Maya heavy crude, a problem that has been […]