Baker Hughes US oil rig count +1

  • Rigs at 482 vs 481 a week ago
  • Oil rigs +1
  • Natural gas rigs -2

The economic momentum and optimism has left the oil market behind. It's 2025 budget-setting season right now though and I'd imagine capital discipline will be the theme next year so that may start to help. The worries are OPEC and China though.

WTI was last down $1 to $69.71.

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