Petroleos Mexicanos, the state- owned oil company, said its May oil output fell 10 percent from a year ago because of declines at its largest field, Cantarell. The declining production have caused an even greater decline in the oil export.

Crude oil exports fell 22 percent to 1.376 million barrels a day from a year ago. Mexico, the third-largest supplier of crude to the U.S., exports about 80 percent of its oil to its northern neighbor. The value of the exports rose 43 percent to $4.4 billion. Mexico exported 14 percent fewer barrels in April on output declines.

Pemex's output is ``at risk'' of falling more this year, leading to further cuts in exports, Mexico's Energy Minister Georgina Kessel said.

Read more: Bloomberg News [1]

These event correponds very well with the Export land model [2], that was developed by the geologist Jeffrey Brown. This is also discussed on one of the worlds leading peak oil discussion boards, the Oil Drum [3].