Friday, January 27, 2017

Oil: "Another huge week for total US oil rigs"

by Bill McBride on 1/27/2017 05:47:00 PM

A few comments from Steven Kopits of Princeton Energy Advisors LLC:

• Another huge week, total US oil rigs up 15 to 566

• Horizontal oil rig counts up +17 to 463
...
• Widespread gains: Permian, EF, Bakken, Cana Woodford – the shale sector as a whole has turned back on

• Another month of this will torpedo the OPEC deal
HZ Rig CountClick on graph for larger image.

Graph and comments Courtesy of Steven Kopits of Princeton Energy Advisors LLC.