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Gold/Mining/Energy : Big Dog's Boom Boom Room
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From: Ed Ajootian11/29/2014 8:16:35 AM
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isopatch
JimisJim

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Can Oil Rig Counts Be Predicted By What Happened With Natty?

As shown by the graph below, when natty prices started crashing in July '08, the natty-directed rig count actually continued to increase for another month or 2 before starting to decline. The decline began gradually and did not accelerate for a good 6 months from the date of the natty price peak, and then from that point till the next 6 months it proceeded to fall off a cliff.

I believe this is what is likely to happen with oil-directed rig counts, now that oil prices have crashed. If anyone thinks differently I'd be interested in your thoughts.



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