Does Mexico have a lot of oil?



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    It is estimated that Mexico has approximately 30 billion barrels of oil in its untapped reserves. It is currently the third-largest supplier of oil to the U.S., and the seventh-largest oil-producing country in the world. However, the country has been facing some trouble in its oil production sector lately; the national oil company’s production rate has fallen by 25 percent since 2004, while internal demand for oil has skyrocketed. This has begun the country’s transformation from oil exporter to oil importer.

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