Mexico Crude Petroleum Export Market -- HS Code 2709 Trade Data & Price Trend (Feb 2025)

Mexico Crude Petroleum Export (HS 2709) Key Takeaways

In February 2025, Mexico's Crude Petroleum Export under HS Code 2709 remained stable, with a slight value increase to $3.92B despite lower volume, reflecting resilient global demand. The market is dominated by bulk crude grades, primarily priced at $0.47/kg, with minimal premium variations. Buyer concentration is extreme, with just a few trading firms handling 98% of transactions, creating reliance on key partners. The U.S. absorbs nearly half of exports, while Mexico's own shipments likely serve logistical purposes rather than domestic consumption. This analysis is based on cleanly processed Customs data from the yTrade database.

Mexico Crude Petroleum Export (HS 2709) Background

What is HS Code 2709?

HS Code 2709 refers to Petroleum crude oil from bituminous minerals, a globally traded commodity essential for energy production and industrial applications. It is a primary feedstock for refineries, powering transportation, manufacturing, and electricity generation. Stable global demand is driven by its irreplaceable role in energy systems and petrochemical supply chains.

Current Context and Strategic Position

While no specific trade policy announcements have emerged, Mexico's Crude Petroleum Export sector remains sensitive to global oil price fluctuations and shifting energy market dynamics. As a key supplier, Mexico's strategic significance lies in its proximity to major consumers like the U.S. and its capacity to influence regional energy security. Monitoring hs code 2709 trade data is critical to anticipate supply chain adjustments and competitive shifts. Vigilance is warranted as geopolitical and economic factors could rapidly alter trade flows.

Mexico Crude Petroleum Export (HS 2709) Price Trend

Key Observations

In February 2025, Mexico's Crude Petroleum exports reached a value of 3.92 billion USD, with a unit price of $0.47 per kilogram, reflecting a steady performance in the early part of the year.

Price and Volume Dynamics

The Mexico Crude Petroleum Export trend showed a slight sequential increase in value from January's 3.89 billion USD, driven by a higher unit price despite a decrease in volume from 8.48 billion kg to 8.37 billion kg. This pattern aligns with typical crude oil market behavior where price gains can offset shipment reductions, often influenced by global demand fluctuations or inventory adjustments in key importing regions. The hs code 2709 value trend remains resilient, suggesting stable export revenues amid broader economic conditions.

Mexico Crude Petroleum Export (HS 2709) HS Code Breakdown

Product Specialization and Concentration

In February 2025, Mexico's export of crude petroleum under HS Code 2709 is heavily concentrated, with the sub-code 270900 accounting for one-third of the total value and weight. According to yTrade data, this code for crude petroleum oils has a unit price of $0.47 per kilogram, indicating a standardized bulk product. A minor anomaly exists with codes 27090099 and 2709009900, which have a higher unit price of $0.58 per kilogram but represent less than 2% of the export value, suggesting isolated premium grades that are excluded from the main analysis.

Value-Chain Structure and Grade Analysis

The non-anomalous sub-codes fall into two clear groups based on unit price: a lower-grade cluster around $0.44 to $0.48 per kilogram (including 2709000501 and 2709000502) and a mid-grade option at $0.53 per kilogram (2709000503). This structure confirms that Mexico's HS Code 2709 exports consist of fungible bulk commodities, with price variations likely tied to crude quality differences rather than value-added processing, as all entries describe crude oils without refinement stages.

Strategic Implication and Pricing Power

The high concentration in a few codes limits individual pricing power for exporters, as prices are driven by global oil indices rather than product differentiation. For market players, the strategic focus should be on cost efficiency and securing contracts for higher-grade crudes where possible, rather than investing in downstream processing, given the commodity nature of these exports.

Table: Mexico HS Code 2709) Breakdown Details (Source: yTrade)

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Mexico Crude Petroleum Export (HS 2709) Destination Countries

Geographic Concentration and Dominant Role

The UNITED STATES is the main destination for Mexico's Crude Petroleum exports in February 2025, holding 47.93% of both value and weight shares. The frequency share is higher at 56.86%, showing more frequent shipments, which fits bulk commodity trade like oil due to steady demand and efficient logistics. Mexico itself appears as a destination with 31.12% value and 31.32% weight shares, likely due to bonded zone logistics or inventory staging for tax purposes, not domestic use.

Destination Countries Clusters and Underlying Causes

Export partners fall into two clusters. The Volume/Hub Cluster includes the UNITED STATES and Mexico, handling most shipments with similar value and weight ratios. The Secondary Cluster has Spain and South Korea; Spain's weight share (14.19%) slightly exceeds value (13.60%), possibly indicating bulk lower-grade crude, while South Korea's value share (7.34%) is a bit higher than weight (6.56%), suggesting slightly higher-grade oil. Lower frequency shares for both imply less frequent, larger shipments typical for distant markets.

Forward Strategy and Supply Chain Implications

For Mexico's Crude Petroleum export strategy, prioritize maintaining the high-volume trade with the US and optimize self-referential logistics for cost efficiency. Consider targeting markets like South Korea where value per kilogram is marginally better to improve margins. Supply chains should focus on bulk shipping methods to manage the weight-intensive nature of HS Code 2709 trade, ensuring stable delivery to key partners.

Table: Mexico Crude Petroleum (HS 2709) Top Destination Countries (Source: yTrade)

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Mexico Crude Petroleum (HS 2709) Buyers Analysis

Buyer Market Concentration and Dominance

In February 2025, the Mexico Crude Petroleum Export market is highly concentrated among a few key players. According to yTrade data, buyers who engage in frequent, high-value transactions account for 98.13% of the total trade value, making them the dominant force. This group handles the majority of shipments, with 98.02% of trade frequency and 98.14% of quantity, defining the typical trade for Mexico Crude Petroleum Export buyers as large-scale and regular.

Strategic Buyer Clusters and Trade Role

The dominant segment of HS code 2709 buyers consists of trading and international firms, indicating an intermediated market where agents like ENI TRADING and P.M.I. COMERCIO INTERNACIONAL drive most transactions. The only other active group involves infrequent, smaller buyers, such as CHEVRON PRODUCTS COMPANY, but their impact is minimal at 1.87% value share. The absence of other buyer types in the four segments shows a streamlined but narrow buyer base for crude petroleum exports.

Sales Strategy and Vulnerability

For Mexican exporters, this structure means focusing on maintaining strong ties with major trading partners to ensure steady sales, but it also highlights vulnerability to shifts in demand from these few buyers. With no specific trade news affecting the period, the lack of diversification calls for monitoring market changes closely to mitigate risks. The sales model should prioritize reliability over expansion due to the concentrated nature of hs code 2709 trade data.

Table: Mexico Crude Petroleum (HS 2709) Top Buyers List (Source: yTrade)

Check Full Crude Petroleum Buyer lists

Action Plan for Crude Petroleum Market Operation and Expansion

• Prioritize contracts for higher-grade crude (e.g., sub-code 2709000503) with major trading firms, using hs code 2709 trade data to identify quality-based price premiums, because it directly boosts margins for Mexico Crude Petroleum Export in a commodity market.
• Diversify the buyer base by targeting infrequent but high-value partners like Chevron, to reduce reliance on a few dominant players and mitigate vulnerability in the Crude Petroleum supply chain.
• Optimize shipping logistics for bulk routes to the United States and Mexico, focusing on cost-efficient, high-frequency shipments, as this maintains steady flow for the core volume hubs in Mexico's Crude Petroleum Export operations.
• Monitor global oil indices and geopolitical events closely, adjusting contract timing to leverage price swings, since hs code 2709 trade data shows prices are index-driven and not differentiated by product.

Take Action Now —— Explore Mexico Crude Petroleum Export Data

Frequently Asked Questions

Q1. What is driving the recent changes in Mexico Crude Petroleum Export 2025 February?

The slight sequential value increase to 3.92 billion USD in February 2025 was driven by a higher unit price ($0.47/kg) offsetting a minor volume decline, reflecting typical crude oil market dynamics where price gains compensate for shipment reductions.

Q2. Who are the main destination countries of Mexico Crude Petroleum (HS Code 2709) 2025 February?

The UNITED STATES dominates with 47.93% of value and weight shares, followed by Mexico (31.12%)—likely for logistics—and Spain (13.60%) and South Korea (7.34%) as secondary markets.

Q3. Why does the unit price differ across destination countries of Mexico Crude Petroleum Export?

Price variations stem from crude quality differences: bulk lower-grade oil (e.g., $0.44–$0.48/kg) dominates, while minor premium grades (e.g., $0.58/kg) are shipped to markets like South Korea, where value per kilogram is marginally higher.

Q4. What should exporters in Mexico focus on in the current Crude Petroleum export market?

Exporters should prioritize maintaining contracts with dominant trading firms (98% of trade value) and optimize bulk shipping to the US, while exploring marginal gains in markets like South Korea for higher-grade crude.

Q5. What does this Mexico Crude Petroleum export pattern mean for buyers in partner countries?

Buyers in the US benefit from reliable, high-volume supply, while secondary markets like Spain and South Korea receive less frequent shipments with slight quality-based price adjustments.

Q6. How is Crude Petroleum typically used in this trade flow?

Mexico’s HS Code 2709 exports consist of unrefined bulk crude oils, primarily destined for refining or storage, with no value-added processing indicated in the trade data.