by Calculated Risk on 12/01/2017 07:35:00 PM
Friday, December 01, 2017
A few comments from Steven Kopits of Princeton Energy Advisors LLC on Dec 1, 2017:
• Total US oil rigs were up 2 to 749, and up 20 over the last four weeksClick on graph for larger image.
• Horizontal oil rigs were up 3 to 648, up 22 in the last four weeks
• Once again, WTI appears to be closing on Brent from below, suggesting US excess inventories are thinning.
• The oil price direction remains firmly upward
CR note: This graph shows the US horizontal rig count by basin.
Graph and comments Courtesy of Steven Kopits of Princeton Energy Advisors LLC.
Posted by Calculated Risk on 12/01/2017 07:35:00 PM