Declining U.S. Oil Production is the Key to Price Stabilization

Production in the United States continues to decline, as rigs come off line. The Baker Hughes rig count has been declining for most of 2016, showing the rigs continue to come off line, as high risk producers curtail their production business.  High debt and leverage have placed many producers of oil at risk, but the recent surge in prices could give many of these exploration companies a reprieve. It…