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Oil: “Another huge week for total US oil rigs”

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A few comments from Steven Kopits of Princeton Energy Advisors LLC:

• Another huge week, total US oil rigs up 15 to 566

• Horizontal oil rig counts up +17 to 463

• Widespread gains: Permian, EF, Bakken, Cana Woodford – the shale sector as a whole has turned back on

• Another month of this will torpedo the OPEC deal

HZ Rig CountClick on graph for larger image.

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

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