Baker Hughes US oil rig count 496 vs 504 prior ...Middle East

Oil rigs -8Gas rigs +1The response to the recent oil price bump has been muted. That might reflect the calendar more than sentiment but we will get a better idea once 2024 budgets begin rolling out. From what I've seen so far there is a strong commitment to capital discipline but Exxon, for its part was talking about boosting drilling in its acquired assets; though it will be a time before those close. This article was written by Adam Button at www.forexlive.com.

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