Egypt to continue oil hedging policy for FY2019/20 – FinMin

Egypt government plans to repeat the oil hedging policy for the financial year 2019/2020, which will start next July, Finance Minister Mohamed Maait told Bloomberg earlier this week.

The Egyptian government hedged against oil-price fluctuations in the current financial year, Maait told Bloomberg TV in an interview broadcasted on Tuesday.

Egypt has estimated an average oil price of $68 per barrel in its full-year 2019-2020 budget compared to $70 per barrel in financial year 2019-2018.