• Total US oil rigs were up 11 to 756Click on graph for larger image.
• Horizontal oil rigs were up a whopping 12 to 648
• Goodness knows the underlying dynamics, but apparently the rig operators have not received the oil price crash memo.
CR note: This graph shows the US horizontal rig count by basin.
Graph and comments Courtesy of Steven Kopits of Princeton Energy Advisors LLC.
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