Mexico spends $1 billion to lock in oil exports

Mexico has spent more than $billion to lock in prices for oil exports next year to help protect public finances as its underperforming economy faces international headwinds that include the timing of a US rate rise and the US elections.

The government’s annual hedging programme, designed to guard against market volatility and the prospect of oil price falls, seals in a price of $42 a barrel for 2017.

Source: Financial Times