U.S. Markets closed

Oil Rigs Could Spell Trouble for Natural Gas’s Rise

Robert Scott
Oil Rigs Could Spell Trouble for Natural Gas’s Rise

In 2008, the natural gas rig count made a record high of 1,606. From the record level in 2008, the natural gas rig count fell ~87.5% until May 18, 2018. Between January 2008 and February 2018, US natural gas marketed production rose 33.9%—based on the EIA’s monthly data. Since January 2008, natural gas active futures have fallen 63% to date. What’s behind the rise in natural gas supplies?