US Rig Count Continues To Plunge To 10-Month Lows…”rig count is gonna fall – drop 500 rigs in next 6-9 months”
by Tyler Durden
ZeroHedge.com
01/05/2015
Just as T.Boone Pickens warned, watching the US Rig Count is key to comprehending the looming crisis in oil. The last 4 weeks alone have seen a drop of over 100 rigs – the 2nd fastest slide since 2001 in percentage terms. This is the worst December to January since 2008/9. As Pickens noted, “demand is down” – “lower demand is the main driver” – “rig count is gonna fall – drop 500 rigs in next 6-9 months”
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