The World’s Most Exiting Oil Hedge Nears Completion

Despite challenges, Mexico is close to completing its notorious oil hedge, unnamed sources told Reuters, adding that the government had used the services of Goldman Sachs, JP Morgan, Citigroup, BNP Paribas, and Shell. The Mexico oil hedge is the most famous one, with investment banks vying every year for a role in it. Worth around US$1 billion, it is done every year and is believed to be the largest oil trade. The deal is the most secretive in the oil world and is followed closely by banks as a sort of weathervane for oil prices. A handful of these…