Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Crude Oil Rigs In Operation Likely To Increase

|Includes: BNO, DBO, DNO, DTO, DWTI, OIL, OLEM, OLO, SCO, SZO, UCO, UGA, UHN, USL, The United States Oil ETF, LP (USO), UWTI
  • Just a quick look at the monthly number of rigs in operation in U.S. vs. monthly crude prices
  • Conclusion: changes to the number of rigs in operation does not lag very far behind the changes in crude spot prices. Given the recent rally in crude prices, we can likely expect the number of rigs in operation in U.S. to increase in the coming months. WTI Spot Price vs. Number of Rigs In Operation (Data Source: EIA)

Disclosure: I am/we are long UWTI, DWTI.