Description: (Bloomberg) — It was like clockwork. Every week since 1944, Baker Hughes Inc. would release its survey of how many rigs were out drilling for U.S oil and gas. And every week, oil and gas traders would, for the most part, overlook it.

Source: Bloomberg.com – video report

Date: Feb 18, 2015

Link: http://www.bloomberg.com/news/articles/2015-02-18/the-hot-new-statistic-oil-traders-are-looking-at-is-71-years-old

Questions for Discussions:

• What does the Baker-Hughes survey report?
• What is the survey suggesting is happening in the oil market today?
• How are traders reacting to this information?