On Wednesday, January 28, two reports indicated that the Olmeca refinery, operated by Mexico's state-owned oil company Pemex, began restarting operations on Tuesday following a shutdown on Monday due to a power outage. Data showed that in December 2025, the refinery processed 263,402 barrels per day of crude oil, the highest level since it began operations. PriceSeek's analysis of crude oil, with a bullish-bearish score of 1.5, notes that the Olmeca refinery's restart after a power outage, coupled with its record-high crude processing volume of 263,402 barrels per day in December 2025, signals a recovery and sustained strength in refinery demand, which is favorable for spot crude oil prices. As a major consumer, the refinery's restart will increase crude oil procurement demand. Combined with the historically high processing data, this reinforces market optimism about future demand prospects, potentially driving up spot crude oil prices. The score of 1.5 (between moderately bullish and significantly bullish) reflects that while the restart itself is not a major event, the high processing volume data underscores demand resilience and provides significant support.
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