RE:RE:RE:U.S. OIL RIG COUNT FALLS TO LOWEST LEVEL SINCE 2019
Basically to bring an oil rig back online it takes about a year. And it's normally too expensive so it's not happening before oil at 60$. Problem with associating oil rigs with production is that very few rigs bring most of the production and this will result in 2mbd loss for at least 2 years but US oil production will stay slightly above 10mbd for 2020