FXStreet – The chief of the Iraqi SOMO and OPEC Governor, Falah Al-Amri said that Iraq may hedge a portion of its crude oil production to protect against the volatility of Oil prices, Reuters reported.
Important quotes on Reuters:
“In the future, our strategy is to hedge a portion of the crude oil production to… SOMO has developed in this direction, an idea which is the real test.”
“There are a lot of requirements must first be met: we must take Hedging under the microscope and people then form. We need to involve the best companies in the Hedging…. still, we understand the Hedging process is not complete.”
** FXStreet News Editorial, FXStreet**