MORE: Videgaray Says Mexico Hedged Oil at $81/BBL for 2014

Finance minister says hedges cost $450m at event in Mexico City. * Videgaray says reviewing whether to modify hedges for new $85/bbl oil price * Oil exports ‘completely’ covered at $81/bbl * Videgaray says decision to hedge through $85/bbl to depend on hedge prices and oil and future prices. * NOTE: Congress changed oil price hedge from $81 to $85 in 2014 budget plan * NOTE: Govt buys oil hedges to protect budget versus short-term price volatility

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