November 30, 2018 / 3:25 PM / 6 months ago

Incoming Mexican president dials back crude output target

MEXICO CITY, Nov 30 (Reuters) - Mexican President-elect Andres Manuel Lopez Obrador expects a decline in oil output to hit bottom next year and he dialed back his estimate for how high he could lift crude production during his term, according to an interview published on Friday.

Lopez Obrador told the daily La Jornada that oil output would fall to around 1.5 million barrels per day (bpd) next year but that he aimed to boost crude production to 2.4 million bpd by the end of his term in 2024. Previously he had targeted 2.6 million bpd. (Reporting by Mexico City newsroom; Editing by Frank Jack Daniel)

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