Petroleos Mexicanos (Pemex) reported an annual loss of 45.2 billion pesos ($2.6 billion), a stark indicator of the company's financial struggles. This loss occurred despite President Claudia Sheinbaum's administration injecting significant financial support to stabilize the debt-laden state oil giant. Crude production continued to decline, highlighting the persistent challenges Pemex faces in revitalizing its core operations. The government's massive subsidies have yet to reverse the downward trend in output, raising questions about the effectiveness of current strategies to boost Mexico's oil sector.