Surge in U.S. shale hedging to boost drilling in 2018

By Catherine Ngai NEW YORK, Dec 21 (Reuters) - When oil prices rocketed towards $60 a barrel this fall, U.S. shale producers hedged more barrels of oil during the quarter than in at least three years, which could help propel the country to record crude production by next year. More than 144 million barrels were added to hedges, after global oil markets rallied by as much as $13 in the quarter. Higher prices help producers lock in profits for future sales. That should guar