Joined Nov 11, 2007
31,929 Blog Posts

Weekly Rig Count May Prove to be a Source of False Readings for Traders

“(Reuters) – Energy investors have taken bets for years on what they thought was an important indicator of future energy production: the weekly rig count data provided by oil service firms.

They may want to be careful about how much money they put on the table.

A Reuters analysis of the data, and interviews with officials at companies involved in collecting and compiling it, shows that it may sometimes be an arbitrary and misleading gauge subject to revisions.”

Full article

If you enjoy the content at iBankCoin, please follow us on Twitter