Mexico’s Oil Hedge Just Saved Its Economy

Mexico’s Oil Hedge Just Saved Its Economy

OilPrice.com

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Petroleos Mexicanos has been in an unrelenting downward spiral for decades. Pemex, Mexico’s state-owned oil company, has seen a vast and speedy decline of its production rates for the last 15 years, and at times it has vied for position as the most indebted oil company in the world, with “about $105 billion of bonds and loans outstanding,” according to the Wall Street Journal, a figure that has almost certainly grown since that figure was released last year.  Leftist Mexican President Andrés Manuel López Obrador,…

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