Current BHI Stock Info

Rig counts are down, but not enough to sustain a long term bounce
Rig counts in the United States have been falling at record rates since the beginning of December as the price of oil remains too low for many producers to make a profit. Goldman Sachs Group Inc. (ticker: GS) joined Citigroup Inc. and Vitol Group yesterday in predicting that the price of oil will remain down, keeping production down until global over-supply is worked down.

Falling rig counts have helped bolster crude futures 14% from this year’s low, but it is not enough to m...

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