RigData Insights

Is the Cart Before the Horse?

  • Thursday, February 9, 2017
  • Posted By Meagan Wildfong

020917 

A recent flurry of positive indicators in the US oil sector—notably current predictions of a boom in US crude oil exports this year—might be signs of “irrational exuberance” creeping into the sector, according to Platts RigData, publisher of the weekly RADAR Report.

 

Looking at the bigger picture, there are pitfalls ahead not only on the macroeconomic front but most importantly with regard to the notion that US oil producers have a smooth path ahead because of production cuts led by OPEC. This theme will be examined in more granular detail in this week’s issue of the RADAR Report.

 

Call 1-800-627-9785 to subscribe to Platts RigData’s RADAR Report, the leading statistical monitor of overall land rig market activity and drilling trends by region, play, operator, driller, and many other proprietary metrics.

crude oil Production US Oil

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