OPEC AND OIL PRICES

Mexico Moves to Cargo-by-Cargo Pricing 

Mexico's Pemex is introducing a new cargo-by-cargo crude pricing system in order to bolster its flagging oil sales. The new system, which will take effect from 1 March, will replace the previous mechanism of twice-monthly retrospective price assessment which was judged to be insufficiently responsive to increasingly volatile market conditions. Under this system, export sales slipped well under the target of 1.5mn b/d,...