Oil Rigs Could Panic Natural Gas Bulls
In 2008, the natural gas rig count made a record high of 1,606. From the record level in 2008, the natural gas rig count fell ~87.7% until June 1. Between January 2008 and March 2018, US natural gas marketed production rose ~50.3%—based on the U.S. Energy Information Administration’s monthly data. Since January 2008, natural gas active futures have fallen 63.2% to date. What’s behind the rise in natural gas supplies?