Trump is shipping our oil business overseas?
Like I said last week, I like the idea of buying and using cheap Saudi oil while ours sits in our ground as a strategic reserve but the Dumb Orange Fucker ran and maybe won the election on "drill baby drill" so WTF !?
US Oil Drillers See Sharp Decline in Activity
The total rig count in the US fell by 4 to 559 rigs, according to Baker Hughes, down 35 from this same time last year.
The number of oil rigs fell by 9 to 442 after falling by 4 during the previous week—and down by 50 compared to this time last year. The number of gas rigs rose by 5 this week, to 114 for a gain of 16 active gas rigs from this time last year. The miscellaneous rig count stayed the same at 3.
The latest EIA data showed that weekly U.S. crude oil production rose again this week, from 13.401 million bpd to 13.408 million bpd. The figure is 223,000 bpd down from the all-time high reached during the week of December 6, 2024.
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