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Bloomberg
Mexico may finally buy US crude oil for the first time ever.
After three years of announcements, negotiations, and potential deals, Petroleos Mexicanos is seeking to buy a trial cargo of 350,000 barrels for its refineries in October.
The much-anticipated deal has been in the making since 2015, when US exports were still banned and Mexico applied for a special license to buy American barrels.
At the time, the company even reached out to oil traders to test the waters, but ended up abandoning the idea. Time passed and in the meantime the US lifted its 40-year ban on oil exports and now the US exports almost twice as many barrels as Mexico does.