Mexican state Pemex has revised its annual production target for the year to 2.35 million b/d from 2.44 million b/d, its lowest level for three decades, the oil and natural gas monopoly said Friday. January-through-July production data has been reduced by 126,000 b/d, or 5%, because of miscalculations by antiquated measuring equipment, Pemex said. Water had been counted as oil in the calculations, it added. –Ronald Buchanan, [email protected] –Edited by Richard Rubin, [email protected]