Mexican President Andres Manuel Lopez Obrador has announced plans to raise the country’s oil production by 45% from current levels by 2025. That’s consistent with earlier plans to also invest in oil refining by Pemex to boost the country’s energy independence. The demands of domestic use can be seen in crude oil export growth of just 6.0% in the 12 months to Oct. 31 vs. five years earlier. Pemex’s main export market is the U.S., which accounted for 57.6% of shipments in the past 12 months but that is also becoming more energy independent. Indeed, U.S. oil expor...