North America Goes Back to Losing Rigs

North American Rig Counts Decline While Crude Oil Prices Climb the Ladder - Mansfield Energy

North American rig activity ticked lower last week, underscoring the market’s push-pull between fundamentals and geopolitically driven supply risk. After a fourth straight gain on Monday, WTI is back down this morning by over $1 to $63/bbl, and October Brent is sitting at $67/bbl. The immediate catalyst for the decline was Ukraine’s weekend drone strikes on Russian energy infrastructure, dimming prospects for a ceasefire and raising the odds of …

North America Goes Back to Losing Rigs

North America dropped four rigs week on week, according to Baker Hughes' latest North America rotary rig count.