Opec officials hope that US oil companies would be badly hit by an over 50% slide in crude prices since last June once their hedges run out, but many companies are racing to revamp their policies and cashing in well-placed hedges to increase the number of future barrels hedged - AFP Photo.
NEW YORK: As a war of nerves between US shale producers and Gulf powerhouses intensifies, Opec’s biggest members are counting down the months until their upstart rivals lose the one thing shielding them from crashing oil prices – hedges.
They may need much more patience than they reckon, however, because those hedges are a moving target.
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