Given OPEC's recent events and the rapid appreciation in oil...

Given OPEC's recent events and the rapid appreciation in oil price. Was wondering what peoples views on undertaking further hedging would be? Previously most people were keen to remain leveraged.

Obviously there is the risk of a large rise in US output as prices increase, however this will take time to effect the market. There is also a large over hang to work through and the chances OPEC fails to adhere to their output cuts.

My view is short term 6-12 month hedging of approx 50% output makes a lot of sense. Interested to see other views.

Also has anyone done cash flow analysis? At current output rates and oil price my estimates say we should have somewhere near 20 million cash at bank by end of financial year.

Good luck all DYOR