US independents step up hedges

摘要

US upstream independents have increased their hedging activity for this year and 2018, to protect their cash fow against possible crude market volatility. Many producers took advantage of stable prices in the third quarter - when benchmark WTI was close to $50/bl - to safeguard their future output. And they continue to do so in the fourth quarter as the US marker has risen above $55/bl. But the reasons behind the move are manifold.