U.S. shale oil producers have raked in billions in losses from hedging their output at lower than current prices, the Financial Times reported today, citing data from IHS Markit. According to the consultancy, even though crude oil is trading at over $70 per barrel right now, U.S. shale producers are selling their barrels for an average of $55 because that’s the price they hedged their future sales at.
For the first half of the year, IHS Markit says, losses have reached $7.5 billion but if oil prices remained around $75 per barrel, this could…Poor Hedging Could Cost U.S. Shale $20 Billion
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