Rig Count down, Oil Price up - Shale Stabilizing

Baker Hughes reported the rig count fell by 84 last week and is down 34% since early October.  U.S. shale producers responded quickly to lower oil prices. With the recent gain in oil prices shale production is expected to stabilize by May or June.  Some analysts question if the decline in rig counts will really result in a slowdown in oil production from the Bakken, Eagle Ford and Permian Basin shale plays.