Mexican state oil company Pemex said on Wednesday its losses narrowed in 2018, helped by currency exchange gains as crude production and refining rates continued to decline. Pemex, Mexico’s largest company, reported a loss of $7.6 billion in 2018, down by nearly half from losses of about $14.3 billion the previous year, according to a filing with the Mexican stock exchange. The company posted a $6.4 billion loss in the fourth quarter. Pemex is facing mounting scrutiny from investors after its credit rating was cut by Fitch Ratings in late January, putting it one notch above junk status. The government of President Andres Manuel Lopez Obrador has nonetheless continued to back Pemex. The veteran leftist took office […]