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Baker Hughes US oil rig count 515 vs 513 prior

Natural gas rigs +8There's about a 12 month lag from US drilling to production. I suspect we've bottomed here but it's tough to say how quickly it will rebound. Yes, oil is at $90 but OPEC+ has 4 million barrels per day in spare production and oil company shareholders are trying to enforce discipline. There are also questions about drilling inventory 3-4 years out. This article was written by Adam Button at www.forexlive.com... Read More

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Posted: Sep 15 2023, 17:12

Author Name: forexlive

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