Oil Export Cut: Mexico announced that it...

Oil Export Cut: Mexico announced that it is reducing crude oil exports by 5% beginning April 1 in a coordinated move with other producers in an effort to buttress prices on the world market. Crude exports will be cut by an average of 68,600 barrels a day from the current average of 1.37 million, the Department of Energy and Mines said in a statement. The statement did not give a time frame for the reduction, but a source at Pemex, the state petroleum monopoly, said the cut will probably be maintained at least until year-end, depending on world market conditions.