Friday, November 10, 2017

Oil Rigs "A Sharp Rebound in the Rig Count"

by Bill McBride on 11/10/2017 04:01:00 PM

A few comments from Steven Kopits of Princeton Energy Advisors LLC on Nov 10, 2017:

• Rigs counts rebounded sharply this week, essentially reversing last week’s losses

• Total US oil rigs were up +9 to 738

• Horizontal oil rigs rose, +11 to 637, the highest in a the last month
...
• The gap between Brent and WTI continues above $6 / barrel, with WTI now near $57 / barrel
Oil Rig CountClick on graph for larger image.

CR note: This graph shows the US horizontal rig count by basin.

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