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Story summary
- New Mexico produces about 2.3 million barrels of oil per day, making it the second-largest oil-producing state in the United States.
- In fiscal year 2025, oil production generated at least $7.3 billion in revenue for the state.
- The ongoing conflict with Iran has driven higher oil prices, providing a financial boost to New Mexico.
- The increased revenue will help close budget deficits and fund early childhood education and infrastructure.
