The Oldest and Most Trusted Real Estate News Magazine

Oil Rigs “Rigs counts took a breather this week”

By

A few comments from Steven Kopits of Princeton Energy Advisors LLC on Nov 17, 2017:

• Rigs counts took a breather this week

• Total US oil rigs were flat, +0 to 738

• Horizontal oil rigs eased back, -1 to 636

• On Wednesday, I suggested that excess inventory draws in the US and the Brent-WTI spread likely meant a resumption of upward oil price pressures, and we saw that today, with WTI up .35 and the Brent spread holding steady at .25

Oil Rig CountClick 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.
Calculated Risk

Tags: , , , , ,

Sitemap Madbadcat Graphics