Mexico says has hedged oil at US$49 per barrel for 2016

Mexico has guaranteed crude oil income at an average price of US$49 per barrel through a hedging program for next year's budget, the finance ministry said on Wednesday.

The program, which includes options on Maya and Brent crudes, will cover 212 million barrels of oil in total at a cost of US$1.09 billion, the ministry said in a statement.

The program ended on August 14, it added.