Watching global Oil & Gas rig counts

Global Oil & Rig Count is at its highest since April 2020 but not higher than ‘pre-pandemic’ February or March 2020.

The U.S. numbers are meandering around same as 2022. They are not drilling nor obeying Biden’s wish. It’s no wonder because said he wants to increase taxes on oil producers.

The Canadians have got the most rigs deployed since early 2018.

More interestingly, on the statistical comparison front, is that the current global average is similar to 2017.

Today, WTI Crude is $78, while it spent most of 2017 trading around $54.

March 5, 2023

by Rob Zdravevski

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