Mexico says it has nearly completed 2017 oil hedge

08/16/16 Reuters

Mexico has nearly completed its oil hedging program for 2017, the country’s finance minister said on Tuesday, adding that what is considered to be the world’s biggest sovereign oil derivatives trade began in mid-June.

Luis Videgaray gave no details on how much crude Mexico was hedging, how much it spent or the average price it paid.

“We have advanced in an important way, we still haven’t finished the process but the vast majority of the options, that is to say the hedge, have already been acquired,” Videgaray said at an event in the northern city of Monterrey.

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