Iraq Mulls Largest Sovereign Oil-Hedging Deal, Topping Mexico
- Baghdad considering hedging as much as 25% of its production
- OPEC member is in the early phases of studying the project
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Iraq is mulling an oil hedging program to lock in prices for future crude sales, potentially topping a similar deal run by Mexico that is considered the largest energy trade in Wall Street.
The Middle Eastern nation is in the very early stages of exploring a hedge for as much as a quarter of either its crude production or exports, Falah Al-Amri, the head of Iraq’s state oil-marketing company, known as SOMO, said in an interview at the Iraq Petroleum Conference in London.