US Crude Production Tops 9 Million Barrels As Rig Count Hits 16-Month Highs
The US oil rig count rose once again this week (up 5) to 602 – the highest since October 2015.
US crude production is surging – back above 9 million barrels/day in the last week – the largest since April 2016.
The lagged response to rig count builds implies considerably more production to come.