March 16, 2020
Mexico's state-owned oil company Pemex said it received the first payment from a hedge that kept prices at $49 per barrel "in the face of falling oil prices in international markets due to the effects of the coronavirus."
The hedge covered the month of February, Pemex said in a statement. Since then, oil prices dropped almost as low as $30 per barrel at one point and ended the week around $35 per barrel.
Finance Minister Arturo Herrera said earlier this month that Pemex had covered all of its oi
Mexico's state-owned oil company also says it has $7.85 bln in credit to deal with "market stress"