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Rising Oil Rig Count: Trouble for Natural Gas Prices?

Robert Scott
Rising Oil Rig Count: Trouble for Natural Gas Prices?

The natural gas rig count was at 186 last week—one less than in the previous week. The natural gas rig count has fallen ~88.4% from its record level of 1,606 in 2008. However, US natural gas marketed production rose ~45.8% between January 2008 and April 2018 despite the natural gas rig count falling. As a result of the increased supply, natural gas active futures have fallen 64.6% since January 2008.