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MEXICO CITY Nov 30 Mexican Finance Minister
Jose Antonio Meade said on Wednesday that any crude production
cut by OPEC would be positive for Mexico's finances and the
health of state oil company Pemex after an agreement by
producers to curb output.
"It was becoming clear that there could be an accord, I'm
not sure that it was reached, I don't know the details, but if
it is the case, then it's good news" for Pemex and Mexico's
finances, Meade told reporters at an event in Mexico City.
Meade later called news of the deal "very important," again
stressing that he was not aware of what it contained.
Earlier, OPEC agreed its first limit on oil output since
2008 after Saudi Arabia said it was prepared to accept "a big
hit" on production and agree to archrival Iran freezing output
at pre-sanctions levels.
Reuters reported OPEC members had agreed to cut production
by about 1.2 million barrels per day (bpd) and that the Saudi
energy minister said he hoped Russia and other unspecified
non-OPEC members would contribute cuts of another 600,000 bpd.
Mexico is not an OPEC member.
The energy ministry was not immediately available for
comment on whether Mexico had agreed to cut its output, which
has fallen by 1.2 million bpd over the past dozen years.
In the past, Mexican officials have said they would not
agree to production cuts.
The price of Mexico's crude oil export mix jumped
more than 4 percent after news of the OPEC cut was first
(Reporting by Roberto Aguilar, Michael O'Boyle and David Alire
Garcia; Editing by Jonathan Oatis)