By Andres R. Martinez

Dec. 22 (Bloomberg) -- Petroleos Mexicanos, the state-owned oil company, said crude oil output fell 6.5 percent in November from the year-earlier period as production at its Cantarell field declined at a faster-than-expected rate.

Production dropped to 2.711 million barrels a day, from 2.901 million barrels a day a year earlier, the company known as Pemex said today on its Web site. In an e-mail, Pemex cited Cantarell, its largest field, as the reason for the drop. The Energy Ministry will release data on Cantarell later today.

The Mexico City-based company in October lowered its 2008 output forecast by 3.6 percent to as low as 2.7 million barrels a day after interruptions from hurricanes. It was the third time Pemex reduced its forecast this year, after a faster-than- expected decline at Cantarell, the world’s third-largest field.

Declining pressure at Cantarell has made it more expensive and harder to continue pumping oil from the offshore deposit. Cantarell’s output fell 32 percent last month from a year earlier, more than twice as fast as government estimates.

Cantarell has shrunk to account for about half of the 65 percent of Mexico’s oil output it once represented.

Oil exports fell 20 percent to 1.511 million barrels a day, according to a chart on Pemex’s Web site.

Mexico is the third-largest supplier of crude to the U.S. Canada and Saudi Arabia are the first- and second-largest suppliers.

Oil futures for February delivery fell $1.73, or 4.1 percent, to $40.63 a barrel in trading on the New York Mercantile Exchange. Oil has tumbled about 72 percent from a record $147.27 a barrel on July 11.

Natural-gas production jumped 19 percent to a record high of 7.239 billion cubic feet a day in November.

To contact the reporter on this story: Andres R. Martinez in Mexico City at amartinez28@bloomberg.net