A few comments from Steven Kopits of Princeton Energy Advisors LLC on Nov 10, 2017:
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.
• Rigs counts rebounded sharply this week, essentially reversing last week’s losses
• Total US oil rigs were up +9 to 738
• Horizontal oil rigs rose, +11 to 637, the highest in a the last month
...
• The gap between Brent and WTI continues above $6 / barrel, with WTI now near $57 / barrel
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.