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The real price of Occidental's 'costless' oil hedge

FILE PHOTO: A pump jack is seen at sunset near Midland
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(Reuters) - In just 12 days, Occidental Petroleum Corp pulled off one of the biggest hedges against falling oil prices ever placed by a U.S. energy company. It characterised the transaction as "costless" but a Reuters review of regulatory filings, market data and interviews shows that's not the whole story.The aim of the complex financial maneuver, the company said, was to help preserve..
Date Published: Jan 13, 2020
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