Mexico spends $1bn to lock in oil export prices for 2017

08/29/16 The Financial Times

oil wellMexico has spent more than $1bn to lock in prices for oil exports next year to help protect public finances as its underperforming economy faces intensifying international headwinds, including 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. The level is below this year’s hedged prices of $49, and $76.40 in 2015, as oil market weakness extends into a third year.

Read more…

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s