According to some sources familiar with the matter, Mexico is in the process of securing its income from 2022 oil production as it has been hedging oil annually at a price range of around USD60-65/barrel.
The country has started hedging several decades ago. In these past two years, Mexico has taken unprecedented measures to keep the hedge details secret.
In 2020, it gained USD2.38 billion from the hedge on the back of the crashing oil prices.
