US Drillers Pick Up Pace! But Why Are Oil Prices FALLING TODAY?
Did you know that despite US oil rig counts picking up pace, key crude benchmarks like WTI and Brent experienced significant price drops this week? While the total number of active drilling rigs increased slightly, breaking a losing streak for some indicators, it still remains lower than a year ago. Surprisingly, US crude oil production is hovering near an all-time high, even as market prices for both WTI and Brent continued their decline. This creates a complex and seemingly contradictory picture for the energy sector, as drillers increase activity amidst a softening market. Understand these crucial market shifts by subscribing to our channel for ongoing expert analysis.
Tags/Hashtags: #oil #gas #wti #brent
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