Market Insights

March 22, 2016 • Posted in Market Insights

Week of March 21, 2016

  • After reaching a 2016 high of $42.54/bbl mid-week, WTI settled down $0.76 to end the week at $39.44/bbl after data was released showing the active US oil rig count had moved up
  • The rig count fell by two-thirds over the past year to 2009 levels, and the reversal (by only one rig) was seen as an indication that drilling may be picking up again
  • The Wall Street Journal published an article this week suggesting that while new technology makes shale production faster and cheaper, access to capital in a low-price environment may stop smaller players from having the financial resources to resume production if prices rebound

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