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April 23, 2016

We Have Raised Our Oil Target to $55 by July 4th (Video)

By EconMatters



Declining 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

AreaLast CountCountChange from Prior CountDate of Prior CountChange from Last YearDate of Last Year's Count
U.S.
22 April 2016
431-915 April 2016-50124 April 2015
Canada22 April 201640015 April 2016-3924 April 2015
InternationalMarch 2016985-33February 2016-266March 2015
Source: Baker Hughes



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