Mexico has lots of Oil reserves; Why Mexico is not member of the ';OPEC'; ?

They wanted to keep the oil for themselves basically. The oil they had was just enough for their country. They didn't produce enough to share on a large scale. I was just reading about this the other day and I was shocked by the amount of oil Mexico actually has had. They don't have that much now but they do think they have found another huge pocket of oil off in the Gulf coast.Mexico has lots of Oil reserves; Why Mexico is not member of the ';OPEC'; ?
OPEC does not require members to ';share'; their oil. Mexico does not keep its oil for themselves. They are a major exporter. Report Abuse
Mexico has lots of Oil reserves; Why Mexico is not member of the ';OPEC'; ?
OPEC鈥檚 mission is to coordinate %26amp; unify the petroleum policies of Member Countries %26amp; ensure the stabilization of oil prices in order to secure an efficient, economic %26amp; regular supply of petroleum to consumers, a steady income to producers %26amp; a fair return on capital to those investing in the petroleum industry.





http://www.opec.org/home/Multimedia/vide鈥?/a>
they do have a lot of oil, so does Venezuela...latinamerican countries do not belong to OPEC
Mexico do business with any country, not only the USA.
there a part the south amercin union
It might surprise you to find that OPEC has nothing to do with geography (but everything to do with geology). Venezuela was in fact the organizing force behind the cartel. It approached four Middle East nations back in 1949.





Eventually these five nations would found OPEC. Other nations signed on over time.





There is debate as to why Mexico did not join. One point of view argues (as Mexico did at the time) that it was not prudent for Mexico to relinquish its production and pricing power. Mexico jealously guards its energy sovereignty. Others say it was heavy US back-channel diplomacy that convinced the country to steer clear.





But it is important to remember that Mexico was not a major oil producer at the time of the formation of OPEC. Mexico's massive Cantarell oilfield was discovered in 1975 -- after OPEC already included most existing members.





Since then, it has toyed with the idea of joining, but has preferred to work independently -- signing on for coordinated production cuts when prices are low, and pumping as much oil as it wants without regard to quotas when prices are high. It gets the best of both worlds, in this way, and has one less bilateral thorn in its relationship with the US.