Pantheon Macroeconomics - We are intrigued by the idea that the rollover in oil firms' capital spending on equipment might already be over, even as spending on new well-drilling--captured by the still-falling weekly operating rigs data--continues to decline. The evidence to suggest equipment spending has fallen far enough is straightforward.

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23 June. 2015 Oil Firms' Equipment Capex Can't Fall Forever - is it Close to Bottom?

By Ian Shepherdson

We are intrigued by the idea that the rollover in oil firms' capital spending on equipment might already be over, even as spending on new well-drilling--captured by the still-falling weekly operating rigs data--continues to decline. The evidence to suggest equipment spending has fallen far enough is straightforward.

Posted: 23rd Jun 2015 in 'U.S. Documents'

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