Sunday, December 22, 2024

Raymond James Believes U.S. Rig Count will Breach 600 by Mid-2016

The current running rig count of 809 in the United States is the lowest in five years, but analysts from Raymond James Equity Research believe we haven’t reached the trough yet. Not even close. In a market report issued on October 5, 2015, the firm believes lower-than-expected drilling activity and a delayed rebound in commodity prices will drag the U.S.