Participants in Mexico’s natural gas and energy markets expressed their optimism for the future in the days following the midterm elections last Sunday (June 6).

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“The Mexican Congress now has a more balanced representation, which is an excellent opportunity for negotiation and to have a moderated agenda,” Mexico City energy consultant Casiopea Ramírez Melgar told NGI’s Mexico GPI. “This scenario may provide a more optimistic panorama, especially in terms of avoiding a constitutional change.”

Mexico’s ruling Morena party and its allies lost their supermajority in the lower congressional house in the elections, placing a check of sorts on President Andrés Manuel López Obrador’s nationalist energy agenda. It all but ensures he would not have the support to upend...