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Mexico throws 1 billion dollars to hedge oil price fall

Source: Internet
Author: User
Keywords Policy Augustine producer
Tags .net exports finance finance minister financial financial times net total
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Remain vigilant against a double-dip recession the Financial Times reported 9th that Mexico had bought a $1 billion policy to prevent a fall in oil prices next year, signaling that commodity producers remain wary of a double-dip recession.　　The world's sixth-largest oil producer said on 8th it had hedged its total net oil exports for 2010 years by buying insurance against oil prices falling below $57 a barrel. "We want to treat it as an insurance policy," said Augustin Castens, the Mexican finance minister. "It doesn't matter if we don't make a profit on this deal," he said. He added that this would mean that oil prices remain above $57 a barrel. Carstens said he did not expect oil prices to fall to such low levels, but added: "The move is mainly to hedge against a terrible outcome." "According to the Xinhua news Agency, CCTV

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