Insight
Surge in oil hedging exacerbates US supply glut
Report summary
Producers rushed to lock in oil prices higher than US$50/bbl after OPEC's November announcement. Our peer group of the 33 largest oil companies with active hedging programmes added more volume of oil hedges during Q4 than in any of the previous four quarters. Those producers – most of which are highly exposed to US tight oil – are partially insulated from recent price weakness. Derivative gains will help fund part of the budget gaps that would result from sub-US$50/bbl oil prices.
Table of contents
- Surge in oil hedging exacerbates US supply glut
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
Long-term Brent price maintained at US$65/bbl – oil and gas price assumptions versus forecasts
Defining our price assumptions and methodology, their use in our tools and services, and why these are independent of our price forecasts.
$1,350
Country Report
Global oil supply short-term update - April 2024
OPEC+ cuts take effect in first half with high levels of compliance noted from participating members
$1,650
Insight
US upstream week in brief: Q1 2024 archive
The US week in brief highlights the need-to-know current events from US upstream. Stories are supplemented with proprietary Woodmac views.
$1,350