Pantheon Macroeconomics - We have been arguing for some time that the drag on growth from falling capital spending in the oil sector would fade to nothing in the third quarter, and would then likely be followed by a small increase in the fourth quarter. But we seem to have been too cautious. It now seems much more likely that oil capex will rebound strongly as soon as the third quarter, following the clear upturn in the rig count data produced by Baker Hughes, Inc.

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20 July. 2016 How Fast Will Oil Capex Rebound in the Wake of Higher Oil Prices?

By Ian Shepherdson

We have been arguing for some time that the drag on growth from falling capital spending in the oil sector would fade to nothing in the third quarter, and would then likely be followed by a small increase in the fourth quarter. But we seem to have been too cautious. It now seems much more likely that oil capex will rebound strongly as soon as the third quarter, following the clear upturn in the rig count data produced by Baker Hughes, Inc.

Posted: 20th Jul 2016 in 'U.S. Documents'

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Keywords for: U.S. Documents | 20 July. 2016 How Fast Will Oil Capex Rebound in the Wake of Higher Oil Prices?

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