Mexico is reaping record financial returns from its oil hedge this year.
After locking in crude sales at $76.40 a barrel, Mexico will receive $6.4 billion in December as the guaranteed price exceeds the average for the country’s oil basket, Finance Minister Luis Videgaray said Tuesday in Mexico City. The 2015 payment surpasses the previous high from 2009, when the Mexican government said it received $5.1 billion after prices plunged with the global financial crisis.
