Skip to content
Subscriber Only

Mexico Hedges 2016 Oil Exports at Average of $49 Per Barrel

Updated on

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

Mexico spent $1.09 billion for the put options, giving it the right to sell 212 million barrels at the hedged prices, the ministry said Thursday on its website. That’s more than the $773 million Mexico spent last year on hedging, reflecting the almost 60 percent slump in the oil price over the past year.