Drilling picks up

  • Total rigs to 521 vs 512
  • Natural gas rigs -1

The lack of gas drilling is concerning given where prices are but oil drilling is picking up. Some of that is a return to work after Ida-related shutdowns in the gulf. I wrote about this chart earlier:

rig count

Brent just ticked above $78 for the first time since 2008 and WTI is flirting with $74.

Brent monthly: