U.S. oil producers have hedged almost 900,000 barrels of future crude at prices of US$50-60 a barrel, which will likely allow them to continue growing production whatever OPEC decides to do at its meeting tomorrow. Bloomberg quotes data from Wood Mackenzie that shows during the third quarter, 33 E&Ps hedged a total 897,000 barrels of future production, which was a 147-percent jump over the second quarter and the biggest one since Wood Mac started tracking hedging data. The most active hedgers were Hess and Cenovus – they accounted for more than a third of the total hedged amount of future production. Some 14 companies from the sample of 33 locked in the future prices of at least 25,000 bpd in production. “Producers that are able to lock in prices above previous expectations may feel more comfortable with increasing activity. Others may leave budgets unchanged and promote higher cash-flow guidance […]