GREY:LSTMF - Post by User
Post by
chantal2468on Oct 23, 2015 11:57am
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Post# 24220826
just because oil rig count drops 50% doesn't mean
just because oil rig count drops 50% doesn't meanproduction will drop...we need 60-70% permanent rig count drop to get oil supply back in balance....natural gas rigs dropped 70% and has for many years produced more nat gas with 30% of peak rigs than proction was before with 100% of rigs.Shale oil is following same path but not as extreme yet as natural gas has accomplished because in alot of cases the natural gas was a byproduct of oil drilling so the numbers are alittle bit misleading.It was never a case of one or the other.They have always been inextricably linked.