Asymmetric Effects of Prices and Storage on Rig Counts: Evidence from the US Natural Gas and Crude Oil Markets

• Published in: Energies (Basel) Vol. 16; no. 15; p. 5752
• Main Authors: Chiou-Wei, Song-Zan, Chen, Sheng-Hung, Chen, Wei-Hung
• Format: Journal Article
• Language: English
• Published: Basel MDPI AG 01.08.2023
• Subjects: Crude oil; crude oil market; Crude oil prices; Drilling; Energy industry; Gasoline prices; Hypotheses; Investigations; Natural gas; natural gas market; Natural gas prices; Nonlinear Autoregressive Distributed Lag (NARDL) model; Petroleum production; Price increases; Prices and rates; rig counts; stocks; storage; United States > US

This study empirically investigates the asymmetric effects of spot (future) prices and storage on rig counts in the US natural gas and crude oil markets from January 1986 to May 2020. It adopts the Nonlinear Autoregressive Distributed Lag (NARDL) model and establishes a flexible and efficient framew...