Occidental Petroleum plans to stop hedging its oil output next year as prices remain elevated with substantial upside potential. "Our current oil and gas hedges will expire by the end of this year, and we have not added any new hedges for future periods," said chief financial officer Rob Peterson during a call with analysts, as quoted d by Bloomberg.
Last week, Pioneer Natural Resources also said it would significantly reduce hedging amid the higher oil prices. Chief executive Scott Sheffield said he expected prices in 2022 to be between $80…Occidental Petroleum Stops Hedging Oil In 2022
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