SMU Energy Analysis: Oil Prices Not High Enough Yet to Boost Rig Count
The price of West Texas Intermediate crude oil briefly exceeded $60 per barrel for one week in July, but the rig count continues to decline, according to Steel Market Update’s analysis of data from the Energy Information Administration (EIA). The spot price of West Texas Intermediate (WTI) FOB Cushing, Okla., exceeded $60 per barrel for […]