OPEC/USA – As OPEC+ talks stall, US shale producers hedge their bets (Sheela Tobben, Kevin Crowley and David Wethe, Bloomberg, Al Jazeera)

As soon as OPEC+ negotiations fell apart on Monday, stoking fears of a supply squeeze and sending oil prices soaring, U.S. shale executives began hitting the phones.

They weren’t ordering their crews to drill for more oil. They weren’t game-planning a miraculous comeback in American crude production. They were securing hedges — locking in prices for the oil they plan to produce next year and protecting themselves against a potential market slump, people familiar with the trades said, asking not to be named because the information isn’t public.

As OPEC+ talks stall, US shale producers hedge their bets | Business and Economy News | Al Jazeera