Mexico started its annual program to lock in oil sales for the coming year as a shield against a further drop in prices, three people with direct knowledge said.
Morgan Stanley, Citigroup Inc., JPMorgan Chase & Co. and Goldman Sachs Group Inc. are among the banks involved, said the people, who asked not to be identified because the process is private. Mexico’s hedging program is probably the largest undertaken by a national government, the chief economist for the country’s Finance Ministry said in 2012.
Brazil Energy Insight 
Leave a comment