Increase in US rig count will not cap oil prices
Green Car Congress
JUNE 23, 2016
If prices went too low the LTO operators couldn’t afford to drill, which would shrink supply and cause prices to rise. Reports say the US exited 2015 with 4,290 DUC wells waiting for completion which, in most cases, costs more than drilling. If and when prices rose the US rig count would rise and ultimately cause prices to fall again.
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