Drumbeat: February 25, 2012

Mexico’s January oil exports lowest since mid-2010

(Reuters) – Mexico’s oil exports in January were the lowest since mid-2010 as the state-oil monopoly diverted more crude to domestic refineries.

State-owned Pemex said Friday the country exported 1.191 million barrels per day in the first month of 2012, the lowest level in 19 months and a drop from the 1.282 million bpd shipped in December.

Oil Caps Longest Rally in Two Years on Iran

Oil capped its longest rally since January 2010 as escalating tension with Iran threatens supplies and on signs of a global economic recovery.

Futures advanced above $109 ...



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