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

Mexico Crude Petroleum Export (HS 2709) Key Takeaways

Mexico's crude petroleum exports under HS Code 2709 surged in March 2025, reaching $4.87 billion as global demand drove a 24% month-over-month volume increase, with prices holding steady at $0.47/kg. The market is dominated by bulk, unrefined crude traded almost exclusively by a handful of high-volume buyers like P.M.I. COMERCIO INTERNACIONAL and ENI TRADING & SHIPPING, who account for 98.5% of trade value. The U.S. remains the primary destination, taking 38% of volume, while Spain and other European markets show slight premiums for specific grades. This analysis, covering March 2025, is based on 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 critical commodity in global energy markets. This product is primarily used by refineries to produce fuels, lubricants, and petrochemicals, driving consistent demand due to its role in transportation and industrial processes. Its trade dynamics are closely tied to global oil prices and geopolitical factors, making it a high-stakes commodity.

Current Context and Strategic Position

The Harmonized Tariff Schedule of the United States (2025) Revision 5 [USITC] reflects recent adjustments impacting trade classifications, underscoring the need for vigilance in tracking Mexico's Crude Petroleum Export under HS Code 2709. Mexico remains a strategic supplier to global markets, particularly the U.S., due to its proximity and production capacity. Monitoring hs code 2709 trade data is essential to navigate price volatility and policy shifts, ensuring competitive positioning in this high-value sector.

Mexico Crude Petroleum Export (HS 2709) Price Trend

Key Observations

Mexico's Crude Petroleum exports surged in March 2025, with total value reaching 4.87 billion USD at a stable unit price of $0.47 per kg. This performance marks a significant uptick in the hs code 2709 value trend, reflecting robust activity in the early part of the year.

Price and Volume Dynamics

The Mexico Crude Petroleum Export trend showed strong momentum in the first quarter, with March's value jumping 24% month-over-month from February's 3.92 billion USD, driven by a substantial increase in export volume to 10.42 billion kg while prices held firm. This sequential growth aligns with typical post-winter demand recovery in global energy markets, possibly fueled by inventory rebuilding cycles and steady crude oil consumption. Despite no major policy shifts evident in early 2025, the trend likely responds to broader economic factors like fluctuating global oil demand or currency dynamics, sustaining the upward trajectory in hs code 2709 exports.

Mexico Crude Petroleum Export (HS 2709) HS Code Breakdown

Product Specialization and Concentration

According to yTrade data for March 2025, Mexico's export of crude petroleum under HS Code 2709 is overwhelmingly concentrated in the basic, unrefined category. The parent code 270900 dominates, accounting for one-third of the total export value at 1.62 billion USD. All top sub-codes describe the same product—crude petroleum oils—and show very low unit prices, consistently between 0.43 and 0.53 USD per kilogram. This uniformity confirms a bulk commodity trade with minimal product differentiation at this export stage.

Value-Chain Structure and Grade Analysis

The breakdown reveals a market trading almost exclusively in raw, unprocessed crude. The sub-codes form a tight cluster with nearly identical product descriptions and minor price variations, likely reflecting different crude grades or slight quality differences rather than distinct processing stages. For example, sub-code 2709000501 trades at 0.43 USD/kg, while 27090099 is slightly higher at 0.53 USD/kg. This structure is typical of fungible bulk commodities, where price is heavily influenced by global oil indices and quality benchmarks rather than value-added processing.

Strategic Implication and Pricing Power

Mexico's export profile under HS Code 2709 is that of a bulk commodity supplier with limited pricing power. Exporters must compete on volume and cost efficiency, as margins are thin and tied to volatile global crude markets. Strategic focus should remain on securing large-volume contracts and optimizing logistical chains, rather than attempting product differentiation. For buyers, this market offers consistent availability of standardized crude, but requires careful attention to grade specifications and transportation costs.

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

Check Detailed HS Code 2709 Breakdown

Mexico Crude Petroleum Export (HS 2709) Destination Countries

Geographic Concentration and Dominant Role

Mexico's exports of Crude Petroleum in March 2025 were highly concentrated. The United States was the dominant destination, taking 38.4% of the total export weight and 33.17% of the total value. The data shows a clear pattern of bulk trade; the weight share for the US is significantly higher than its value share. This indicates shipments of large volumes at a lower unit price, typical for a raw material like crude oil. Mexico itself appears as a major partner, which points to inventory staging, likely from movements into bonded zones for storage or future re-export.

Destination Countries Clusters and Underlying Causes

The importers form two clear clusters. The first is a Volume Cluster, consisting of the US and Mexico, where the massive weight shares dominate. This reflects their role as primary bulk consumers and logistical hubs for this commodity. The second is a High-Yield Cluster, including Spain, South Korea, and Italy. For these partners, the value share is notably higher than their weight share. Spain, for instance, accounted for 11.91% of the weight but 12.47% of the value, suggesting it may pay a slight premium for specific crude grades or have different transportation costs. This HS Code 2709 trade data reveals a market split between high-volume buyers and more selective, potentially higher-margin purchasers.

Forward Strategy and Supply Chain Implications

The heavy reliance on the US market creates both a stable foundation and a concentration risk for Mexico's Crude Petroleum export strategy. To build resilience, diversifying into the High-Yield Cluster markets in Europe and Asia could help capture better margins. The significant domestic trade volume also highlights a complex supply chain where logistics within Mexico's own bonded zones are crucial for managing inventory and final export allocation. Optimizing these internal logistics is as important as managing external shipments for overall efficiency.

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

Get Complete Destination Countries Profile

Mexico Crude Petroleum (HS 2709) Buyers Analysis

Buyer Market Concentration and Dominance

In March 2025, the Mexico Crude Petroleum Export market shows extreme concentration among buyers. According to yTrade data, high-value and high-frequency buyers dominate, holding 98.52% of the trade value and 98.57% of the weight. This group, with 106 transactions moving 60.61 million units valued at 4.80 billion, defines the typical trade for hs code 2709 trade data. The market for Mexico Crude Petroleum Export buyers is heavily reliant on this segment.

Strategic Buyer Clusters and Trade Role

The other three segments of buyers have minimal impact, with low-value and low-frequency players contributing only 1.48% in value. The dominant high-value, high-frequency cluster includes companies like P.M.I. COMERCIO INTERNACIONAL S.A. DE C.V and ENI TRADING & SHIPPING, INC, which are trading firms. This indicates an intermediated market where agents drive most hs code 2709 buyer activity, focusing on large-scale, frequent deals.

Sales Strategy and Vulnerability

For Mexico's export strategy, the focus should be on nurturing relationships with key trading companies to maintain market access. The high dependence on a few buyers poses a risk if demand shifts, but it offers stability through established channels. Sales should prioritize volume and reliability. Recent updates to the Harmonized Tariff Schedule, as noted in [USITC Learning], could affect trade flows, requiring attention to policy changes. (USITC Learning)

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

• Diversify into European and Asian markets using hs code 2709 trade data to identify high-yield buyers, reducing over-reliance on the U.S. and capturing better margins for Mexico Crude Petroleum Export.
• Strengthen relationships with key high-frequency trading firms like PMI and ENI to secure large-volume contracts, ensuring stable demand and predictable revenue streams.
• Optimize the domestic Crude Petroleum supply chain by streamlining logistics in bonded zones, cutting storage costs, and improving inventory turnover for export readiness.
• Monitor global crude indices and grade-specific price trends in hs code 2709 trade data to time shipments strategically, maximizing revenue per unit exported.

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 March?

Mexico's Crude Petroleum exports surged 24% month-over-month in March 2025, reaching 4.87 billion USD, driven by higher volumes (10.42 billion kg) at a stable unit price of $0.47/kg. This reflects post-winter demand recovery and inventory rebuilding in global energy markets.

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

The United States dominated, accounting for 38.4% of export weight and 33.17% of value. Spain, South Korea, and Italy formed a secondary cluster, with Spain taking 11.91% of weight but 12.47% of value.

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

Minor price variations (e.g., 0.43–0.53 USD/kg) stem from crude grade differences or transportation costs, not processing stages. High-volume buyers like the US pay lower bulk rates, while Spain’s slight premium suggests grade selectivity.

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

Exporters must prioritize high-volume contracts with key trading firms (e.g., P.M.I. COMERCIO INTERNACIONAL) and optimize logistics. Diversifying into European/Asian high-yield markets (e.g., Spain) could mitigate US dependence.

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

Buyers benefit from standardized, bulk-available crude but face concentration risks. Trading firms dominate procurement, ensuring stable supply chains, though grade specifications and transport costs require close monitoring.

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

Mexico exports unrefined crude (HS Code 2709) as a bulk commodity, primarily for refining into fuels or petrochemical feedstocks. The uniform, low-unit-price shipments indicate raw material trade with minimal downstream processing.