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Mexican state Pemex has revised its annual production target for the year to 2.35 million b/d from 2.44 million b/d, its lowest level for three decades, the oil and natural gas monopoly said Friday.

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January-through-July production data has been reduced by 126,000 b/d, or 5%, because of miscalculations by antiquated measuring equipment, Pemex said.

Water had been counted as oil in the calculations, it added.

--Ronald Buchanan, newsdesk@platts.com
--Edited by Richard Rubin, richard.rubin@platts.com