Closed-End Fund Market Commentaries
Nov 29, 2016
Click here to access U.S. Crude Oil & Natural Gas Rig Counts Are Trending Higher
View from the Observation Deck
1. Today's blog post illustrates the dramatic reduction in the number of active U.S. crude oil and natural gas rigs since energy prices peaked in 2014, as well as a bit of a rebound in the counts in the second half of 2016.
2. Rig count cuts are generally done in an effort to curb production in response to declining energy prices. Rig counts tend to rise when energy producers sense that higher prices are not only coming, but are sustainable.