U.S. Shale Races To Hedge Production Amid OPEC+ Uncertainty

U.S. shale producers started boosting this week hedges to lock in the price of oil they plan to pump in the coming months, after the OPEC+ drama left the market uncertain about the future of oil prices and the alliance itself, Bloomberg reported on Wednesday, quoting sources with knowledge of the rise in hedge trades.

  Typically, the U.S. shale patch is hedging a part of its future oil production at a certain oil price. In this way, producers are protecting themselves against sharp drops in market benchmarks and ensure revenues for their…