Reuters offered insight into how Mexico is playing a risky game of hide and seek with the oil market. To frustrate speculators and contain an annual bill of more than $1 billion, Mexico is going to new lengths to mask its attempts to insure its revenue from oil sales against falling prices – no mean feat for a hedging program known as Wall Street’s biggest oil trade. Getting the hedge right is crucial for Mexico as it offers stability at a time the government is planning to boost social welfare and security spending, the economy is stagnating and the country’s credit-worthiness is under intense scrutiny.
Reuters offers insight into how Mexico going ghost as its oil hedge bill spirals
23 January 2020, 12:00 am 1 minute
Type: Reuters Best
Sectors: Commodities & Energy
Win Types: Speed
Story Types: Exclusive / Scoop