PARAÍSO, Mexico—About 20 miles offshore of this industrial port in southern Mexico, contractors for Petróleos Mexicanos are busy drilling exploratory wells in the Xikin oil field. Trying to increase production might seem like business as usual for the state-run oil giant, if not for this: At today’s prices, the company would take a loss of roughly $9 on each barrel of oil it lifts from the ocean floor at Xikin.

Source: Wall Street Journal May 11, 2020 12:45 UTC