Petroleos Mexicanos’ March oil production slid to its lowest monthly level in almost two decades after output declines accelerated at the world’s fifth-largest crude oil producer. Monthly crude production fell to 2.47 million barrels a day through March 30 as output at the company’s largest Ku-Maloob-Zapp and Cantarell fields dropped from the previous month, state-owned Pemex said today in a preliminary report. March was Mexico City-based Pemex’s smallest monthly output since October 1995 when it produced 1.898 million barrels a day. Pemex is banking on a December law change allowing foreign companies to join the energy industry to boost investment and increase national oil production to 3 million daily barrels by 2018, the government has said. The energy overhaul, which President Enrique Pena Nieto called the most important economic change in 50 years, is expected to raise as much as $30 billion a year in foreign investment, according to […]