Here is the story from Reuters:
”Mexican state-owned oil company Pemex said on Tuesday it had completed an oil hedging program for May to December that guarantees a price of $42 dollars per barrel for up to 409,000 barrels per day.
Pemex said the recently completed hedge, which was the first such move in 11 years, cost it $133.5 million.
The Pemex hedge is separate to the much-larger oil price hedge undertaken by Mexico’s finance ministry.”
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