Speaking of oil, is Mexico lowering its prices or isn't it? Turns out, it isn't. Earlier this month, the Mexicans announced a drop in prices.
Now, despite slackening demand for oil, Mexico had done an about-face and announced price increases effective July 1. It also warns that buyers resisting the higher rates could forfeit future purchases.
Why? It seems the original announcement, by state oil company head Jorge Diaz Serrano, angered other high Mexican officials. There was a nasty domestic squabble, and Diaz Serrano resigned.
Whether Mexico, the world's fourth-largest oil pro ducer, can make the price boosts stick remains to be seen.m