Oil producers are finding themselves in kind of a pickle. While oil prices are indeed on the rise, many producers are unable to take full advantage of this nicety because they have locked some of their production in at lower price levels. This time last year, when WTI Crude prices were around $45 a barrel, U.S. shale producers were looking for opportunities to hedge some of their future production, whenever oil prices went up. Companies hedge their production by purchasing financial options to ensure a minimum price for their crude oil in the future,…
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