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Energy Investing
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Re: US Oil Rig CountDown 19 YoY... Chart w/Confirmed DowntrendI'm not an expert, but I watch Permian rigs only as the only engine for production growth. 6 rigs higher than last year. 348 vs. 342. Permian rigs were growing throughout the year. US production rose 1 mm bpd. But the difference is coming down. It doesn't mean US production will fall. It just means that growth will be slower....until Permian rigs fall much lower to a critical level, perhaps 10-20% lower...perhaps to 300. romm |
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Msg # | Subject | Author | Recs | Date Posted |
501480 | Re: US Oil Rig CountDown 19 YoY... Chart w/Confirmed Downtrend | coolreit | 3 | 6/2/2023 4:56:05 PM |
501482 | Re: US Oil Rig CountDown 19 YoY... Chart w/Confirmed Downtrend | ghmndod | 10 | 6/2/2023 5:30:32 PM |
501488 | Re: US Oil Rig CountDown 19 YoY... Chart w/Confirmed Downtrend | marpincan | 7 | 6/2/2023 7:32:49 PM |