• Oil rigs gained +2 to 887
• Horizontal oil rigs gained more solidly, +5 at 779
• The model forecasts one more week of rig gains, after which numbers crash.
• Breakeven to add rigs rose to around $72 WTI, compared to $50.50 WTI on the screen as of the writing of this report
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.