The price of Mexican oil is under the bottom line so are jobs

Mexican crude broke the $ 40 barrier for the first time in nearly 70 months; since June, the national oil has depreciated more than 60% hit by the international context.

The pessimistic scenario is being fulfilled. The price of the Mexican crude oil has depreciated 12.1% in just three days to go this year, due to fears of a global oversupply of oil.

From the peak of 2014, marked the June 20 to close at $ 102.41 per barrel (dpb), it has depreciated to date 61% by concerns over crude supply high quality shale US This represents a risk for almost a third of Mexican government revenues.

The fall accelerated after the OPEC meeting in November, when Saudi Arabia ruled out production cuts as a way to prop up prices, and the country has remained on the same page since.

Thus, the Mexican mix late last June broke the floor of $ 100, on 10 September the $ 90, 14 of the 80 October, 25 November 70 greenbacks, 4 on December 60 dollars, 16 December 50 and Tuesday's $ 40.

The floor of $ 30 not broken since December 29, 2008, according to analysts could not touch the floor.

"We believe that oil prices could fall to $ 37, the minimum 2009. The conditions in the financial markets may be similar to those of 2009 in the first half," he told CNNExpansion director of economic analysis of Banco Base, Gabriela Siller; while Banamex sees the annual average will be priced at 53 dpb.

Traders say the trend seems to follow oil lower, but prices could recover as soon as a change is given in market confidence which could occur in late 2015, but nothing is written.

Thus, the crash could be extended in the coming days as a market with oversupply adds that weekend data showed that Russian oil production peaked following the Soviet era in 2014 and that exports from Iraq, the second OPEC's largest producer, recorded its highest level since 1980.

The 'storm' feeds nervousness about political uncertainty in Greece that adds to the already shaky economy of the euro zone, raising questions about energy demand in Europe and exacerbating the negative sentiment.

Some economists expect lower oil prices encourage the purchasing power of consumers and underpin the global economy, although the fall of more than 50% in oil prices since June has also raised fears of deflation.

Oil prices internationally have fallen over 55% since June, when the benchmark Brent traded above $ 115 a barrel and US crude above $ 107.

Venezuelan President Nicolas Maduro met Tuesday with Chinese banks and companies looking for financial support to offset the fall in oil revenues, while Venezuelans are waiting for other eventual devaluation.

The trip is key to Maduro: Venezuela is in recession after three quarters of contraction of GDP, rising inflation and oil, main export and source of 96% of foreign exchange entering the country, it is in a free fall.

In his tour that began in Russia, Maduro will also meet with representatives of OPEC, to which his country advocates a cut in oil production that affects prices.

Venezuela failed to achieve a cut in the group's production in late November which sharpened the collapse of oil.

The fall destabilized markets, accelerated the financial crisis in Russia, raised the risk that Venezuela does not pay his debts and forced some US producers to cut jobs and reduce investment.

But Saudi Arabia does not yield. In late December, in an exclusive interview with CNN, Saudi Oil Minister Ali al-Naimi said he never cut production.

"That is the position that we will always have (not reduced), not only in 2015," he said.

Tuesday, King Abdullah of Saudi Arabia said in a speech that the country would deal with the challenge posed by low oil prices, "with a strong will," without giving signs that the world's largest oil exporter will cut supplies .

Depending on the conspiracy theory that we create, Saudi Arabia would petroprecios waging a war against Iran (also a member of OPEC), Syria, Russia and even the United States, its traditional ally.

Some analysts believe that the country seeks to gain market share amid the current price crisis. The average annual salary of an area director in the oil industry is $ 79.600.

It is well known that wages in the oil industry are higher than the overall average. In the context of the energy reform that trend will increase to a greater demand for talent: 49% of the oil companies related to this sector in Mexico plan to increase their hiring.

"Mexico is a particular situation, has an energy reform but a shortage of skilled people from a technical perspective. The little talent available seeks earn wages, "said Gerardo Kanahuati, CEO of Hays Group Mexico, human resources consulting.

27% of companies oriented to the oil and gas sector in the country plans to increase between 5 and 10% their contracts this year, 22% increased their level of recruitment beyond 10% and only 7% decrease squares.

The demand for talent will strengthen the wage level and its increase. The lowest salary of 222 pesos a day Pemex is at least three times the minimum wage, according to the Directorate General of Labour Research and Statistics of the Ministry of Labor and Social Security.

An area director of this sector in Mexico in 2013 saw an average salary of $ 79.600, 37% higher than a year earlier, according to figures from Global Salary Guide in oil and energy produced by the labor exchange 'Oil and Gas Job Search ', in collaboration with Hays.

Oil is still the most common and used worldwide energy resource, and increased demand for technical and specialized talent hits salaries, Kanahuati said.

The world pay for executives was $ 81.184 on average, a reduction of just 1% on 2012 attributed the slow growth in most economies, cites the wage report, which included interviews with 24,000 employees and employers from 53 countries.

In Mexico the recruitment of specialized talent for the sector is in 'red' alert said. The annual demand is 1,000 petroleum engineers, but graduate about 300, which does not dominate the English and lack of experience on budget, among other skills. "They have tables companies seek" he said.

The National Polytechnic Institute and UNAM graduate about 200 petroleum engineers. At two institutions would take them 15 years to create the supply of talent to cover retirees Pemex in 2012, according to data from the Mexican Institute of Competitiveness.

Many of the new oil jobs will be filled by foreign talent, said the director of Hays Mexico. Foreign talent in the country receives annual salaries of $ 132.700. "There is a significant percentage of Venezuelans, but no matter where they come from, the question is the value they bring," raised Kanahuati.

Imported specialists are quoted well as fluent in English, for its expertise in international projects, as well as technical.

The countries that offer the best salaries in the industry, according to Global Salary Guide, are Norway ($ 179.200), Australia (163.700), Canada (130,000). Holland, meanwhile, has average annual salaries of $ 111.000; New Zealand, $ 100.800.