Will Oil Ever Recover?

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OPEC not helping
While U.S. produces have been scaling back rig counts in a major way in response to the supply glut, core OPEC members have simply chosen to ignore the problem so far. U.S. producers have reduced their oil rig count by 916 rigs since October of 2014, but core OPEC members have actually increased their oil rig count by 8 rigs during that time.

 

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Posted In: Analyst ColorSpecialty ETFsCommoditiesMarketsAnalyst RatingsETFs
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