US Rig Count Soars Most In 10 Months As Production Hits Record High

US Rig Count Soars Most In 10 Months As Production Hits Record High

US rig counts rose by 12 in the last week – the biggest rise since March 2017 – as the lagged crude price is sparking more drilling and in turn sending production surging to a new record high… just shy of Saudi Arabia!

 

US crude production surged back from its weather-impacted plunge to a new record high last week…

And is set to overtake Saudi Arabia very soon…