As U.S. demand for light crude from Pemex (short for Petróleos Mexicanos) dwindles, the company needs to find other buyers, the Journal states.
"Mexico is wise to seek diversification in export markets right now. The boom in the U.S. and Canada could continue to encourage Mexico's effort," said Samples, an expert on the Mexican energy sector. "The market for Olmeca has been disturbed by the shale boom while the heavy-crude market is not as immediately challenged."
Samples also said the Keystone XL crude-oil pipeline, which could eventually run from Canada to Texas, would also have an impact on Pemex.
"I think this is an important issue for Mexico's crude-export strategy to the extent it increases competition in the Gulf refinery markets for Mexico's crude products," he said.