Oil & Gas rigs are still climbing

Globally, we may be 6 months away from reaching the same oil rig count as seen in March 2020, for the number of rigs in action tend to decline through November – February.

The lag in deployed rigs appears in the Middle East, Africa and ESG ‘shamed’ Europe.

I don’t know why Biden is so angry at his American Oil & Gas E&P companies, for their rig count is nearly back to where they once came from.

I think that threat of his to impose a super tax of their ‘super’ profits was a mid-term election rhetorical ploy.

November 10, 2022

by Rob Zdravevski

rob@karriasset.com.au