Mexico says world's largest oil hedge has been completed

#oilwire - Mexico has completed its annual oil hedge for 2018, which will lock in an average export price of $46/bbl of crude, Deputy Finance Minister Vanessa Rubio said. In addition to the put options bought on the market, a larger Oil Revenue Stabilization Fund, with the help of the central bank’s exchange-rate surplus, will help guarantee the price, Rubio told Bloomberg News. "We have completed it and we’re assured that the hedge perfectly covers the price of a barrel that we included in the 2018 budget of $46 dollars," Rubio said

Category