US oil producers lock in prices after crude’s rally:
"North American oil producers have pounced on the recent rise in crude prices to lock in sales at current levels, something that could safeguard prospective shale output in the face of a future downturn.
Bankers and brokers say hedging in the US and Canada has accelerated as West Texas Intermediate crude pushes above $50 a barrel, a break-even price for many shale oil companies.
“There’s been more producer-hedging in the past two weeks than in the past four or five months,” a banker said."
'via Blog this'
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