Mexico

Mexico will not join other top oil producers in extending through July output cuts aimed at propping up the price of crude, Energy Minister Rocio Nahle said on Saturday.

Mexico will not extend into July oil output cuts it agreed in April with the OPEC+ group of oil producing nations, Energy Minister Rocio Nahle said on Saturday.

The governor of a Mexican state roiled by clashes between security forces and demonstrators on Saturday apologized for police abuses and pledged to track down a number of people reported missing after the disturbances.

Masked men and women protesting police abuses vandalized buildings and threw stones at the U.S. Embassy in Mexico City on Friday as Mexican state authorities arrested three officers in a bid to quell anger over the death of a man in police custody.

Mexico's health ministry reported on Friday an additional 4,346 cases of the novel coronavirus in the country as well as 625 new deaths, bringing the country's confirmed total to 110,026 cases and 13,170 deaths.

Mexicans protested against police brutality on Thursday in the second-largest city, Guadalajara, calling for authorities to be held accountable for the death in custody of a local man allegedly arrested over not wearing a face mask in public.

Mexico is not in a position to make additional oil output cuts beyond those agreed at the April meeting of the OPEC+ group of oil-producing countries, President Andres Manuel Lopez Obrador said on Friday.

Mexican annual inflation likely accelerated in May to nearly 3% due to price pressures from processed foods and some agricultural services and products, according to a Reuters poll published on Friday.

The Brazilian real and Mexican peso have both rebounded strongly in recent weeks, but their rallies are starting to diverge with the peso running out of steam and the real gaining momentum.