As the oil price crash squeezes oil companies across the globe, Mexico’s Hacienda Hedge is set to deliver $6.2 billion to the Latin American country, Mexico’s President Manuel Lopez Obrador said on Wednesday in Mexico City, according to Bloomberg . Mexico has been insulated from this week’s extremely volatile oil prices, in that the hedge allows Mexico to sell its oil at a price that was determined earlier—prior to the price crash. In this case, Obrador said today, Mexico hedged at $49 per barrel. The current Mexican basket price is hovering a bit above $7 per barrel—a fine save for Mexico. Mexico employs the hedge to some extent every year, although some years it benefits more than others. This year the benefits of the hedge will be invaluable to Mexico’s oil industry, which otherwise would have had a rough go of things at $7 per barrel for its oil […]