We Have Raised Our Oil Target To $55 By July 4th (Video)Apr. 24, 2016 7:43 AM ET|| Includes: BNO, DBO, DIG, DNO, DRIP, DTO, DWTI, GUSH, IEO, NDP, OIL, OLEM, OLO, PXE, SCO, SZO, UCO, USL, USO, UWTI, XOPby: EconMattersEconMatters Follow Independent research, bonds, long/short equity, macroSend MessageEconMattersEconMattersDeclining U.S. Production, the Massive drop in RIG Counts, and robust Demand Growth for 2016 are all bullish fundamentals for the Oil Market heading into the Seasonally Strong part of the Demand Curve from a consumption standpoint. Rig Count Overview & Summary Count Area Last Count Count Change from Prior Count Date of Prior Count Change from Last Year Date of Last Year's Count U.S. 22 April 2016 431 -9 15 April 2016 -501 24 April 2015 Canada 22 April 2016 40 0 15 April 2016 -39 24 April 2015 International March 2016 985 -33 February 2016 -266 March 2015 Source: Baker HughesAbout this article:ExpandTagged: Macro View, Commodities, Alternative InvestingProblem with this article? Please tell us. Disagree with this article? Submit your own.