Occidental Stops Hedging Oil at $76, Impact on OXY Investors
Occidental Petroleum (OXY) has decided not to add any more oil hedges this year after its previous hedging strategy limited upside gains as crude prices surged. The company used costless collars earlier in the year amid downside risks but now faces exposure due to volatile oil markets.
Tickers: $OXY
Topics: crude prices hedges oil volatility