As Oil Rig Count Declines, Signs Points to Potential Recovery

Could Saudi Arabia already be winning the shale oil wars? A new research report says U.S. energy firms are significantly backing off their production plans in the U.S. as the price of oil moves below $60 per barrel. Oil service stocks to continue to underperform A Sterne Agee report is cutting estimates and price targets on energy production firms and expects oil service stocks to continue to underperform the market near term.  The lowering of performance estimates comes as the research report notes a 450+ rig count decline in the U.S. market by mid 2015, lowering their 2015 U.S. rig…