Mexico hedges 2016 oil exports at $49 a barrel

WSJ – Mexico hedged oil exports for 2016 at an average price of $49 a barrel, down 36 percent from the hedge for this year as oil prices tumble and domestic production declines. The hedging contracts covered 212 million barrels of crude oil. It cost the government about $1.1 billion, the highest sum since 2010.

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