MEXICO CITY: Mexico's finance ministry on Monday said it had finished its operation to hedge expected income from oil sales in 2017, guaranteeing an average price of $42 per barrel for crude exports.
The ministry said in a statement that it had bought put options at an average price of $38 per barrel to cover 250 million barrels of crude at a cost of $1.03 billion.
The ministry said it had set aside funds to cover the remaining $4 per barrel.