U.S. oil & gas executives opinion oil rig growth compared to WTI prices 2020

Based on a September 2020 survey, the majority of oil and gas executives expect United States' oil rig count to increase again once WTI oil prices reach between 51 and 55 U.S. dollars per barrel. A further 29 percent of respondents believe U.S. oil rig count to see substantial growth only if WTI prices reach between 56 and 60 U.S. dollars per barrel.

West Texas Intermediate crude oil price stood at 37.26 U.S. dollars per barrel on September 14, 2020.

Distribution of oil and gas executives opinion on West Texas Intermediate crude oil price necessary to faciliate substantial oil rig count increases in the United States as of September 2020

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Source

Release date

September 2020

Region

United States

Survey time period

September 9 to September 17, 2020

Number of respondents

160 respondents

Special properties

Oil and gas firm executives

Supplementary notes

Percentages don't sum 100, due to rounding.

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