Executive Summary - An Excerpt
- Rig demand is flattening out
- Underlying commodity’s futures contracts are no longer re-inflating
- Capital budgets wane when realized commodity prices shrink
- Industry bias pointing to less need for rigs
- Domestic and global economies perceived to strengthen in 2018
Regional Analysis
Executive Summary - An Excerpt
Platts RigData projects the US land rig count will average slightly better than 900 rigs actively drilling each month over the remainder of 2017. For 2018 we expect the US land rig count will average 941 active on a monthly basis, implying an advance of 79 rigs or +9% YoY growth based on our estimates for this year and next.
Global Supply & Demand — OPEC's View
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