Oil Rig Counts

greenspun.com : LUSENET : TB2K spinoff uncensored : One Thread

Here's and interesting page for those of you following oil:


It shows the US rig count in January of 1999 was 654. In January of 2000, the rig count had jumped to over 900. It sounds like rising prices have caused more wells to be put back in production or more new wells to be drilled. If so, this should lead to an increased supply and lower prices in the long run.

Is there anyone who actually understands this and can comment?

-- Jim Cooke (JJCooke@yahoo.com), March 04, 2000



-- Lynx (links@re.us), March 04, 2000.

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