Long oil is creeping closer

I’m revising my entry price for SHEL.L higher than the 2170p level suggested in this April 2024 note….to 2390p

p.s. I haven’t had an oil related ‘long’ for 3 years but I’m preparing for it.

December 3, 2024

rob@karriasset.com.au

Rigs in operation continues to increase

The amount of rigs in operation (globally) now back to levels seen 19 months ago.

African and U.S. locales lead the month over month percentage increase.