The Mexican government has completed its hedging of oil exports for 2020 at $49 per barrel compared to $55 per barrel a year earlier and current market prices of $63 per barrel. The conservative move, which has come just as global oil markets are being roiled by Middle East tensions, followed a drop in Mexico’s oil and petroleum product exports of 19.0% year over year in the three months to Nov. 30. Pemex, the state-owned oil company, has also been a victim of U.S. oil independence with a 10.0% drop in northbound shipments over the same period. Earlier sales success in shipments to Europ...