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Some producers took their hedges off towards the end of last year but the market has proved them wrong. If prices had rebounded, they would have been heroes, but many got out about US$30 above where we are now, instead of hedging at US$100, many are now hedged at US$70, which probably isn't that bad, but they can't sustain those levels when the cash runs out.

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Reuters 9 years ago

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    "Nabil Naccoul Quotes." Quotes.net. STANDS4 LLC, 2024. Web. 23 Dec. 2024. <https://www.quotes.net/citizen-quote/62197>.

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