The Globe and Mail reports in its Friday, Feb. 12, edition that a defence Canadian oil producers had against the plunging price of crude is crumbling as hedges expire amid projections that crude will continue to decline. A Bloomberg dispatch to The Globe reports that hedges that shielded companies such as Crescent Point Energy and Whitecap Resources from the full pain of $30 oil are winding down this year and next (all figures U.S.). Nineteen small to mid-sized producers have an average of 19 per cent of their crude hedged at about $58 a barrel this year, and only 3 per cent at about the same price in 2017. That compares with 27 per cent at $71 for the same companies last year. The reduced hedging may prompt companies to accelerate output and costs cuts, including dividends, as the brunt of the downturn hits. Crescent Point's oil hedges drop to 29 per cent at about $60 a barrel this year, from 44 per cent at $69 last year. Its gas hedges fall to 30 per cent from 33 per cent. Whitecap's oil hedges fall to 14 per cent this year at $64 a barrel, from 47 per cent last year at $74 a barrel. Crescent Point says it is "well protected" with hedges in 2016.