Oil Rigs: "Horizontal oil rigs roll off modestly"

A few comments from Steven Kopits of Princeton Energy Advisors LLC on August 24, 2018:

• Oil rigs let off again this week

• Total oil rigs fell, -9 to 860

• Horizontal oil rigs declined, -2 to 766
...
• Visual inspection suggests that rigs continue to roll off gently from here for the next several weeks.

Click 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.