{"id":5931,"date":"2015-02-23T15:31:39","date_gmt":"2015-02-23T20:31:39","guid":{"rendered":"http:\/\/olduvai.ca\/?p=5931"},"modified":"2015-02-23T15:31:39","modified_gmt":"2015-02-23T20:31:39","slug":"the-rig-count-meme-and-why-the-bounce-in-wti-is-likely-over","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=5931","title":{"rendered":"The Rig Count “Meme” (And Why The Bounce In WTI Is Likely Over)"},"content":{"rendered":"

The Rig Count “Meme” (And Why The Bounce In WTI Is Likely Over)<\/a><\/h3>\n

Recently, the Baker Hughes Rig Count has become all the rage.<\/strong>\u00a0I did a search on Bloomberg, using only Bloomberg generated articles, with \u201cRig\u201d and \u201cCount\u201d as matches in the headline only.<\/p>\n

\"\"<\/a><\/p>\n

Back in October, there were barely any articles at all. The number of articles increased year end, but the articles were still concentrated on the day of the announcement. The first, and so far only, Saturday article was on January 31st. There were Sunday articles on February 18th and February 15th.<\/p>\n

The first time I talked about Rig Count in a report was back on December 19th. By the 29th it had become part of our report and things to watch for \u2013 on the 29th I sent out the info at 1:30 pm \u2013 which, believe it or not, was the first time many saw the number that day. Contrast that to more recent reports where the headlines now come out instantaneously?<\/p>\n

Very Little “Near Term” Info<\/strong><\/p>\n

The Rig Count data is very interesting. We used it primarily to support our Jack and Diane thesis on oil and the economy \u2013 which I think is winning more and more acceptance.<\/p>\n

Secondarily, we thought it would support the price of oil, not because it did much for supply, but because everyone would focus on it, and too many bears had shown up. I think that is exactly what happened.<\/p>\n

WTI Pricing<\/strong><\/p>\n

\"\"<\/a><\/p>\n

…click on the above link to read the rest of the article…<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The Rig Count “Meme” (And Why The Bounce In WTI Is Likely Over) Recently, the Baker Hughes Rig Count has become all the rage.\u00a0I did a search on Bloomberg, using only Bloomberg generated articles, with \u201cRig\u201d and \u201cCount\u201d as matches in the headline only. Back in October, there were barely any articles at all. The […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[589,1775,595,596,3450],"class_list":["post-5931","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil-demand","tag-oil-price-collapse","tag-oil-production","tag-oil-supply","tag-us-oil-rig-count"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5931","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5931"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5931\/revisions"}],"predecessor-version":[{"id":5932,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5931\/revisions\/5932"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}