据今日油价12月10日报道，石油生产国在油价暴跌后忙于填补预算缺口，而石油进口国则从低油价中受益，其中一些国家正在对冲价格上涨的风险。
例如埃及，一个石油净进口国，已经将其石油套期保值增加了近一倍，以保护自己免受石油进口成本上升的影响。
埃及财政部长Mohamed Maait在谈到截至2021年6月的2020-2021财政年度计划时表示："我们签署了大量对冲合约。"但他没有详细说明埃及为此付出了多少成本，以及具体对冲金额。
这并不是埃及第一次购买看涨期权，这使埃及有权以某个预先确定的价格购买石油。在过去两年里，由于燃料成本较低，特别是部分燃料得到补贴，减轻了政府财政负担，该国对油价上涨进行了对冲。
作为与国际货币基金组织（IMF）达成的一项贷款协议的一部分，埃及大幅削减了燃料补贴。
值得注意的是，埃及石油套期保值的消息传出前几天，有报道称，石油生产国墨西哥每年都要进行华尔街最大、最隐秘的套期保值。然而，与埃及不同的是，墨西哥通过对冲来保护自己不受低油价的影响，关注看跌期权，这让它有了以预定价格出售石油的权利。
墨西哥石油对冲，或称Hacienda对冲，被认为是华尔街最大的对冲赌注，也可能是最隐秘的，这样的对冲可以在油价暴跌的情况下减少损失。今年早些时候，人们认为是石油对冲使墨西哥经济免于崩溃。据彭博社报道，2020年的对冲为墨西哥带来了多达25亿美元的收益。
王佳晶 摘译自 今日油价
原文如下：
Egypt Buys Huge Oil Contracts To Hedge Against Rising Prices
While oil-producing nations are scrambling to plug budget shortfalls after the price crash, oil importers are benefiting from the low oil prices, and some of them are hedging against higher prices.
Egypt, for example—a net oil importer—has nearly doubled its oil hedges to protect itself against higher oil import costs, Egyptian Finance Minister Mohamed Maait told Bloomberg in an interview published “We did a huge number of hedging contracts,” Maait said about the program for the fiscal 2020-2021 ending in June 2021, without giving details about how much it cost Egypt to do that or how much it has hedged.
This is not the first time that Egypt has resorted to buying call options, which give it the right to buy oil at a certain predetermined price. Over the past two years, the country has also hedged against higher oil prices as low costs for fuel, especially if part of the fuel is subsidized, alleviates the burden Egypt has significantly cut subsidies News of Egypt’s oil hedge comes days after reports emerged about the annual hedge of a large oil producer, Mexico, which undertakes every year the largest and most secretive hedge Unlike Egypt, however, Mexico hedges to protect itself against low oil prices—so it buys put options, which give it the right to sell oil at a predetermined price.
The Mexican oil hedge, or the Hacienda Hedge, is considered the biggest hedging bet This year’s annual hedge made Mexico as much as US$2.5 billion, according to Bloomberg.