Rig Counts
Big deal that it's 652...used to be 2500...plus most US companies properties have 40% decline rate and break even costs above $50 and near term debt coming due plus the US oil guys rarely hedge so when WTI goes up they are forced to pump to not go bankrupt. The majors like Chevron have to keep borrowing 6 billion / Q to stay in business but of course a CVX is too big to fail...just like the US banks were