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An oil producer closes a deal to sell 10,000 barrels of oil in 3 months while the current oil price is $ 30 and the

An oil producer closes a deal to sell 10,000 barrels of oil in 3 months while the current oil price is $ 30 and the forward price is $ 29. Let me say that it takes a negative stance on a FORWARD for selling 10,000 barrels of oil in 3 months. It is seen that in 3 months the price of oil drops to $ 28. Calculate the gain / loss from its position in the Forward. How do you judge his decision to use Forward for compensation?

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