As global crude oil prices have plunged, rig counts for the US and Canada have also fallen. Starr Spencer, senior editor for oil news, delves into the specifics of the rig counts and explains how oil producers seek to continue being economic — even when prices are low and capex has been cut — by working with drillers and oil service contractors. She also discusses whether the industry feels the drop in rig counts is a short-term dip or the start of a longer-term trend.
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