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Mexico hedges oil exports for 2020

Monday, January 6, 2020

Mexico’s government hedged oil exports for this year at an average $49 a barrel, locking in protection against low crude prices, the nation’s Finance Ministry said.

A statement from the ministry announcing the completion of the hedge, for the same oil price as estimated in the 2020 budget, didn’t disclose how much Mexico paid to acquire the coverage, a break from recent years, Bloomberg reports.