Mexico Petroleum Oils Export Market -- HS Code 2710 Trade Data & Price Trend (Feb 2025)

Mexico Petroleum Oils Export (HS 2710) Key Takeaways

Mexico's Petroleum Oils exports (HS Code 2710) surged to $1.22 billion in February 2025, driven by rising global demand and a unit price increase to $0.40/kg. The market is dominated by bulk commodity-grade shipments, with sub-code 27101999 accounting for 33% of exports, reflecting low-margin, high-volume trade. Buyer concentration is extreme, with a handful of high-value firms like REPSOL controlling over 99% of trade, creating reliance risks. The U.S. absorbs 64% of exports, while Mexico’s 33% share likely stems from bonded logistics rather than domestic consumption. This analysis, covering February 2025, is based on cleanly processed Customs data from the yTrade database.

Mexico Petroleum Oils Export (HS 2710) Background

What is HS Code 2710?

HS Code 2710 covers petroleum oils derived from bituminous minerals (excluding crude), including other oils and waste oil. These products are critical for industries such as energy, transportation, and manufacturing, where they serve as fuels, lubricants, or raw materials. Global demand remains stable due to their essential role in industrial and commercial applications.

Current Context and Strategic Position

Regulatory scrutiny of dual-use items, including certain petroleum-based products, has intensified, as highlighted in recent updates from [CATTS]. This underscores the need for compliance in Mexico's Petroleum Oils Export sector, particularly for HS Code 2710 trade data. Mexico's strategic position as a key exporter is bolstered by its refining capacity and proximity to major markets, making it a vital player in the global supply chain. Monitoring trade flows and regulatory shifts is essential to maintain competitiveness and mitigate risks in this dynamic environment.

Mexico Petroleum Oils Export (HS 2710) Price Trend

Key Observations

Mexico's Petroleum Oils exports (HS Code 2710) reached $1.22 billion USD in February 2025, a significant increase from January's $945.71 million. The unit price also rose from $0.38/kg to $0.40/kg over the same period.

Price and Volume Dynamics

This sequential growth in both value and volume reflects strengthening global demand and firmer crude pricing entering 2025. The Mexico Petroleum Oils Export trend shows momentum building from January, with export volumes climbing from 2.49 billion kg to 3.04 billion kg. While no direct policy changes targeted energy exports in early 2025, broader regulatory attention on export controls for dual-use items [CATTS] may indirectly reinforce compliance diligence for all traded goods, including hydrocarbons. The hs code 2710 value trend remains closely tied to international crude benchmarks and refining margins, with February's performance indicating robust operational and logistical capacity.

Mexico Petroleum Oils Export (HS 2710) HS Code Breakdown

Product Specialization and Concentration

In February 2025, Mexico's export activities under HS Code 2710 are heavily concentrated in a few key sub-codes, with the sub-code 27101999 for specific petroleum oil preparations dominating the market. According to yTrade data, this sub-code accounts for over 33 percent of the total export value and weight, with a unit price of approximately $0.40 per kilogram, indicating a focus on high-volume, low-margin bulk shipments. A minor anomaly is present in sub-code 2710199901, which has a significantly higher unit price of about $1.69 per kilogram but is isolated due to its low frequency and minimal share, representing less than 0.1 percent of the value.

Value-Chain Structure and Grade Analysis

The non-anomalous sub-codes can be grouped into two main categories based on unit price and volume. The first category includes high-volume sub-codes like 271019 and 2710199905, with unit prices ranging from $0.39 to $0.44 per kilogram, representing standard bulk petroleum oils that are fungible and likely tied to global oil price indices. The second category consists of sub-codes such as 2710199907, with a slightly higher unit price around $0.63 per kilogram, suggesting minor differentiation or specialized grades, but still operating within a commodity-based market structure dominated by homogeneous products.

Strategic Implication and Pricing Power

Analyzing HS Code 2710 trade data reveals that Mexico's exports are primarily commodity-driven, with limited pricing power due to reliance on global oil market fluctuations. For market players, the strategic focus should be on optimizing logistics and volume efficiency rather than product differentiation, as the market structure favors bulk transactions. This insight into HS Code 2710 exports from Mexico underscores the need for cost management and market timing to navigate price volatility effectively.

Table: Mexico HS Code 2710) Breakdown Details (Source: yTrade)

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Mexico Petroleum Oils Export (HS 2710) Destination Countries

Geographic Concentration and Dominant Role

The United States is the dominant destination for Mexico's Petroleum Oils exports in February 2025, accounting for 64.26% of the value and 63.38% of the weight. The close alignment between value and weight shares indicates bulk trade of standard-grade Petroleum Oils, with no significant premium or discount pricing. Mexico itself appears as a key partner with 33.26% value share and 33.25% weight share, likely due to bonded zone logistics or inventory staging within supply chains, rather than domestic consumption. Frequency shares are lower for both, suggesting larger, less frequent shipments typical for commodity exports.

Destination Countries Clusters and Underlying Causes

Countries cluster into three groups based on trade patterns. The Volume Cluster includes the United States and Mexico, with high weight and value shares, pointing to bulk purchases for refining or large-scale consumption. The Transactional Cluster features Colombia and Costa Rica, where high frequency shares (15.15% and 14.75%) contrast with low value and weight, indicating smaller, regular shipments for regional distribution or retail markets. The High-Yield Cluster consists of Panama and the Dominican Republic, with value shares exceeding weight shares, suggesting demand for higher-grade or specialized Petroleum Oils in these markets.

Forward Strategy and Supply Chain Implications

To optimize Mexico's Petroleum Oils export strategy, focus on sustaining bulk flows to the Volume Cluster, particularly the United States, while targeting high-margin opportunities in the High-Yield Cluster like Panama. Logistics should be streamlined for frequent shipments to Transactional Cluster countries to support regional demand. Analysis of HS Code 2710 trade data shows stable bulk trade, but monitoring regulatory changes is advised for any impacts on export flows.

Table: Mexico Petroleum Oils (HS 2710) Top Destination Countries (Source: yTrade)

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Mexico Petroleum Oils (HS 2710) Buyers Analysis

Buyer Market Concentration and Dominance

In February 2025, the Mexico Petroleum Oils export market showed extreme concentration among a small group of buyers. According to yTrade data, high-value, high-frequency buyers dominated, accounting for over 99% of the trade value and nearly all volume. This means the typical trade for Mexico Petroleum Oils Export buyers involves large, regular shipments, with a few key players driving almost the entire market.

Strategic Buyer Clusters and Trade Role

The remaining three segments of buyers contribute minimally, with low-value groups handling less than 1% of value combined. The dominant high-value, high-frequency cluster includes companies like REPSOL, indicating large corporate entities that likely use the oil directly in production, suggesting a "Direct-to-Factory" commercial persona. The profile of HS code 2710 buyers points to a market where a handful of major firms control the flow, with smaller buyers playing negligible roles.

Sales Strategy and Vulnerability

For exporters in Mexico, the strategy must focus on nurturing relationships with the dominant high-value buyers to secure stable revenue, but this creates vulnerability to demand shifts or supply disruptions from these few partners. The high dependence on a concentrated buyer base is a key risk, and regulatory changes, such as those highlighted in recent export control updates [CATTS], could impact trade flows if compliance requirements tighten. Sales should prioritize direct engagement with large buyers to mitigate risks and capitalize on the established high-volume trade pattern.

Table: Mexico Petroleum Oils (HS 2710) Top Buyers List (Source: yTrade)

Check Full Petroleum Oils Buyer lists

Action Plan for Petroleum Oils Market Operation and Expansion

• Prioritize bulk shipments to the United States to leverage its dominant role in the Mexico Petroleum Oils Export market, as this sustains high-volume revenue streams.
• Use hs code 2710 trade data to identify and target high-yield destinations like Panama for premium-priced shipments, increasing overall profit margins.
• Secure long-term contracts with the few dominant, high-frequency buyers to ensure stable demand and mitigate risk from market concentration in the Petroleum Oils supply chain.
• Optimize logistics for smaller, frequent shipments to transactional markets like Colombia to capture consistent regional demand without disrupting bulk operations.
• Continuously monitor regulatory updates and global oil indices to proactively adjust the Mexico Petroleum Oils supply chain strategy, protecting against price volatility and compliance shifts.

Take Action Now —— Explore Mexico Petroleum Oils Export Data

Frequently Asked Questions

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

Mexico's Petroleum Oils exports surged to $1.22 billion in February 2025, up from $945.71 million in January, driven by stronger global demand and higher crude prices. The increase in both value and volume (3.04 billion kg vs. 2.49 billion kg) reflects robust operational capacity and favorable market conditions.

Q2. Who are the main destination countries of Mexico Petroleum Oils (HS Code 2710) 2025 February?

The United States dominates with 64.26% of export value, followed by Mexico (33.26%) due to bonded logistics. Colombia and Costa Rica form a smaller transactional cluster with frequent but low-volume shipments.

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

Price differences stem from product specialization—bulk shipments (e.g., sub-code 271019 at $0.39–$0.44/kg) dominate the U.S. and Mexico, while Panama and the Dominican Republic command higher prices ($0.63/kg) for specialized grades.

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

Exporters must prioritize relationships with high-volume buyers like REPSOL, who drive 99% of trade, while targeting high-margin opportunities in Panama. Cost-efficient logistics for bulk shipments to the U.S. remain critical.

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

U.S. buyers benefit from stable bulk supply, while transactional buyers (e.g., Colombia) rely on smaller, frequent shipments. High-yield markets like Panama face premium pricing for specialized grades.

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

The bulk shipments suggest primary use in refining or large-scale industrial consumption, with minor specialized grades likely serving niche manufacturing or energy needs.