RE:Oil Rigsmasfortuna wrote: Still down substantially for the year although they increased by 1. So where is all this oil ccoming from that has the US apparently producing 1 million bpd MORE this year than last? And that is about equal to what Saudi Arabia has removed from the market nevermind the 2 million more that Opec+ has also removed. So again I ask, where is this oil coming from? Domestic production increases???
It's coming from improved drilling techniques, longer horizontals
Look at bte, or CPG. They're both looking at organic growth in the 5% range. As are many cdn oil companies. But drill rigs are down here too.