Another huge drop
Rigs are in freefall. People are talking about a drop to 11 million US barrels per day from almost 13 mbpd. It could be much deeper.
Weekly oil rig changes in key shale basins:
- Permian -33 to 283
- Eagle Ford -9 to 40
- Williston -7 to 34
- DJ Niobrara unchanged at 16
- Cana Woodford -2 to 7
