ASSESSING OIL PRICE RISKS IS A KEY TO HEDGING

Robert Boslego The Boslego Corp. Winchester, Mass. In my article on hedging management here 2 years ago (OGJ, Feb. 1, 1988), 1 discussed the major weaknesses I had identified in many hedging programs. One weakness was the lack of a reliable, ongoing assessment of the level of price risk, and I mentioned the use of frequency distributions as a tool for developing future price probabilities (Fig. 1). This article will focus on some of the elements of price probability analysis and why it is

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