Wall Street’s Biggest Oil Hedge Is Declared a State Secret
- Mexico protects data on sovereign hedge to thwart speculators
- Government is worried disclosing information could raise cost
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Mexico has made key data on its sovereign oil hedge a state secret to shield the information from speculators and prevent cost increases, according to official documents seen by Bloomberg.
The move reduces transparency into the workings of the program, which is the largest oil transaction on Wall Street and often moves the market. The Mexican Finance Ministry will keep the data secret for five years, it told the government’s auditing body in a February 2019 letter.