Baker Hughes US oil rig count 222 vs 237 prior
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Drilling continues to contract
Drilling rigs continue to drop. If you believe in a strong 2021 rebound and return to strong demand for oil, there’s going to be shortages. I think it’s more of a 2022 or 2023 story but either way, there’s no money coming into US oil and gas.
Drilling rigs continue to drop. If you believe in a strong 2021 rebound and return to strong demand for oil, there’s going to be shortages. I think it’s more of a 2022 or 2023 story but either way, there’s no money coming into US oil and gas.