onVeh35oAue124ncIae15PHA+PHN0cm9uZz5VUyBvaWwgcmlnIGNvdW50IHR1bWJsZWQgYWxtb3N0IDYlIFlvWSAtIGl0cyBiaWdnZXN0IGFubnVhbCBkcm9wIGluIDE1IG1vbnRocy48L3N0cm9uZz4gSG93ZXZlciwgdGhlIDEzJSBjb2xsYXBzZSBpbiB0aGUgbGFzdCA4IHdlZWtzIGlzIGFjY2VsZXJhdGluZyBmYXN0ZXIgdGhhbiB0aGUgMjAwMSBhbmQgMjAwOCBjcmlzaXMgYW5kIGhhcyBkcm9wcGVkIDxzdHJvbmc+cmlnIGNvdW50IHRvIGl0cyBsb3dlc3Qgc2luY2UgT2N0b2JlciAyMDEwPC9zdHJvbmc+LiBBdCB0aGUgc2FtZSB0aW1lPHN0cm9uZz4gcHJvZHVjdGlvbiBpcyBzdXJnaW5nPC9zdHJvbmc+IC0gaW4gZmFjdCBhdCBpdHMgaGlnaGVzdCBwYWNlIG9uIHJlY29yZC4uLiA8ZW0+dGhlIGdhbWUgb2YgY2hpY2tlbiBjb250aW51ZXMuPC9lbT48L3A+PHA+oDwvcD48cD5SaWcgY291bnQgaXMgY29sbGFwc2luZzwvcD48cD48YSBocmVmPSJodHRwOi8vd3d3Lnplcm9oZWRnZS5jb20vc2l0ZXMvZGVmYXVsdC9maWxlcy9pbWFnZXMvdXNlcjMzMDMvaW1hZ2Vyb290LzIwMTUvMDEvMjAxNTAxMTZfZHJpbGwxLmpwZyI+PGltZyBzcmM9Imh0dHA6Ly93d3cuemVyb2hlZGdlLmNvbS9zaXRlcy9kZWZhdWx0L2ZpbGVzL2ltYWdlcy91c2VyMzMwMy9pbWFnZXJvb3QvMjAxNS8wMS8yMDE1MDExNl9kcmlsbDFfMC5qcGciIHdpZHRoPSI2MDAiIGhlaWdodD0iMjkxIiAvPjwvYT48L3A+PHA+oDwvcD48cD5BcyBXU0ogc2hvd3MgYmVsb3csIGV4dHJhY3Rpb24gaXMgc3VyZ2luZyBhcyBkcmlsbGluZyBwbHVuZ2VzLi4uPC9wPjxwPjxhIGhyZWY9Imh0dHA6Ly93d3cuemVyb2hlZGdlLmNvbS9zaXRlcy9kZWZhdWx0L2ZpbGVzL2ltYWdlcy91c2VyMzMwMy9pbWFnZXJvb3QvMjAxNS8wMS8yMDE1MDExNl9kcmlsbC5qcGciPjxpbWcgc3JjPSJodHRwOi8vd3d3Lnplcm9oZWRnZS5jb20vc2l0ZXMvZGVmYXVsdC9maWxlcy9pbWFnZXMvdXNlcjMzMDMvaW1hZ2Vyb290LzIwMTUvMDEvMjAxNTAxMTZfZHJpbGwuanBnIiB3aWR0aD0iNjAwIiBoZWlnaHQ9IjM5NyIgLz48L2E+PC9wPjxwPqA8L3A+PHA+PGEgaHJlZj0iaHR0cDovL3d3dy56ZXJvaGVkZ2UuY29tL25ld3MvMjAxNC0xMi0yMy90LWJvb25lLXBpY2tlbnMtcmFnZXMtY25iYy1pLWFtLWV4cGVydC1ub3QteW91LXNheXMtb2lsLWRvd24tZHVlLXdlYWstZGVtYW5kIj5Nb3JlIHRvIGNvbWUgLSBhcyBULkJvb25lIFBpY2tlbnMgc28gZWxvcXVlbnRseSB0b2xkIHVzLjwvYT48L3A+

US oil rig count tumbled almost 6% YoY - its biggest annual drop in 15 months. However, the 13% collapse in the last 8 weeks is accelerating faster than the 2001 and 2008 crisis and has dropped rig count to its lowest since October 2010. At the same time production is surging - in fact at its highest pace on record... the game of chicken continues.