Increase in US rig count will not cap oil prices
Green Car Congress
JUNE 23, 2016
The impact of rising oil prices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. So this avenue to escape the war didn’t work for the book’s main character John Yossarian. oil rig count as a precursor of when US LTO would fall.
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