Industrialized Cyclist Notepad

Saudi production down, rig count up
November 20, 2011, 15:55
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That’s not an encouraging sign for the “all is well” team. We might expect some lag-time, however. Look at the graph. From 2005-7 the rig count shoots up as production falls. Then production shoots up while the rig count plateaus.

Graph from Stuart Staniford’s blog.