Current /CL:NMX Stock Info

Falling Rig Count, CapEx Cuts Having Impact
Groundhog Day might have been a scare for two out of three groundhogs, but not for the world’s oil bulls.

3 Month Oil Price (West Texas Intermediate) - Nasdaq

In spite of warnings of a short-lived rally from some banks, oil prices managed to climb nicely on Feb. 2, maintaining about a $5 spread between the key benchmarks, WTI and Brent. Analysts point to widespread CapEx cuts leading to falling rig count and future production slowdowns from the U.S. shale beds; i.e., reduce the supply to balanc...

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