Occidental Just Stopped Hedging Oil at $76. Here's What That Bet Means for OXY Investors.

Oil prices have been hyper-volatile this year. Brent crude, the global oil benchmark, started this year at around $60 a barrel. It doubled at one point before trending back down below $100 a barrel more recently. Many oil companies use hedges to help mitigate the impact of oil price volatility on their earnings. However, oil price hedges acted as a headwind to oil industry profits during the first quarter, including for Occidental Petroleum (NYSE: OXY). As a result, Occidental doesn't plan to add any more hedges this year. Here's what it means for investors in the oil stock. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool