Mexico and expects to pay a record $ 6.00 billion, at least hedge oil this year.
Latin American country to defend itself against the fall in the oil price goes through a series of financial transactions with banks, including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Citigroup Inc. 2015 ..
Hedging runs from December 1 to November 30, covering 228 million barrels at $ 76.40 for a package of Mexican oil, according to government documents and reports. Less than two weeks until the end of the program, the package averaged $ 46.61 per barrel during the period.
The difference will result in a payment of about $ 6.8 billion. Mexican oil fell on November 18 to $ 33.28 a barrel - its lowest since December 2008 ..
E.Dimitrov JrTrader
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