[HN Gopher] Wall Street's Largest Oil Trade (2017)
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       Wall Street's Largest Oil Trade (2017)
        
       Author : bilifuduo
       Score  : 10 points
       Date   : 2020-04-11 21:08 UTC (1 hours ago)
        
 (HTM) web link (www.bloomberg.com)
 (TXT) w3m dump (www.bloomberg.com)
        
       | nobrains wrote:
       | 2017
        
         | mardifoufs wrote:
         | Yep but probably more relevant than ever as Mexico still hedges
         | most of it's production. That's why they have been able to hold
         | out against the rest of OPEC+ on production cuts. They are
         | basically guaranteed to get a much better price for their oil
         | so cutting production probably doesn't make sense for them. So
         | that hedge is really giving Mexico an outsized influence on
         | global oil right now
        
         | neximo64 wrote:
         | Mexico hedged almost at $50 this year, extremely relevant. Lots
         | of incentives to both have oversupply and not cut production.
        
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       (page generated 2020-04-11 23:00 UTC)