Drilling Continues to Disappoint As Oil Prices Climb

The total number of active drilling rigs in the United States fell by 1 this week, bringing the total count to 631 and marking a loss of 148 rigs so far this year, with the number of oil rigs staying the same at 512 and the number of gas rigs falling by 1 to 114.

oilprice.com

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8/31/2023

Column: Depleting US crude inventories lift oil prices

U.S. commercial crude oil inventories have fallen by 34 million barrels since mid-July, tightening the market and causing spot prices and spreads to rise.