Operator
Good day, everyone, and welcome to the PBF Energy second-quarter 2021 earnings conference call and webcast. [Operator instructions] Please note, this conference is being recorded. It is now my pleasure to turn the floor over to Colin Murray of investor relations. Sir, you may begin.
Colin Murray
Investor Relations
Thank you, Laura. Good morning and welcome to today s call. With me today are Tom Nimbley, our CEO; Matt Lucey, our president; Erik Young, our CFO; and several other members of our management team. A copy of today s earnings release, including supplemental information is available on our website.
Before getting started, I d like to direct your attention to the safe harbor statement contained in today s press release. In summary, it outlines that statements contained in the press release and on this call, which express the company s or management s expectations or predictions of the future are forward-looking statements intended to be covered by the safe har
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US shale firms hesitate to pump — or hedge — more, despite oil high prices | Hellenic Shipping News Worldwide
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As soon as OPEC+ negotiations fell apart on Monday, stoking fears of a supply squeeze and sending oil prices soaring, U.S. shale executives began hitting the phones.
They weren’t ordering their crews to drill for more oil. They weren’t game-planning a miraculous comeback in American crude production. They were securing hedges locking in prices for the oil they plan to produce next year and protecting themselves against a potential market slump, people familiar with the trades said, asking not to be named because the information isn’t public.
The hedges are just about the only thing that’s certain about shale’s response to the OPEC+ crisis thus far. The cartel’s failure to reach a deal in several meetings since last week has raised the question of whether America’s oil drillers will stage a comeback and take advantage of the moment to steal market share. Some, on the other hand, fear the group’s rift could trigger a price war that would flood the market with crude.