RE:-9 U.S. rigs; -22 in Canada ; -1 Permian: -5 Utica Not sure the rig count matters as much at the moment... Despite the rig count reduction, the U.S is still producing a crazy amount...
"Meanwhile, U.S. crude production has increased by more than 2 million bpd since early 2018 to 12.1 million bpd, making America the world’s biggest producer."
https://uk.reuters.com/article/us-global-oil/oil-drops-2-percent-as-economic-outlook-weakens-u-s-supply-surges-idUKKCN1QP03Z