Hedge

Mexico’s annual ‘Hacienda Hedge’ contrarian bet with banks protects the world’s 12th-largest oil producer from boom-&-bust prices, and made $2.4bn (£1.8bn) profit from 2001-17.  But the sun may be setting on the hedge, as world oil demand is falling

Guessed the Word?           Series 26 (5/7)           [pic: Gellinger]