Weekly drilling rig data • Prior was 381 • Natural gas 83 vs 81 prior • Total rigs 481 vs 464 prior That's a big jump in drilling activity and could weigh on oil from here.
Seems like these resources are abundant on this planet after all, more drilling more pumping, prices blunge, growth is slower, demand is lower, supplies are very high. looks more political than economical, I mean it seems like there is a plan to destabilize and weaken nations like Russia who greatly rely on exporting oil, but it seems like the Russians are dealing with it pretty well and the Gulf is paying the price. lets see what's next.