Despite the biggest drop in active rig count since Q2, there is some positive news in mid-September on the oil supply/demand front...
RigData US rig count is 484 active rigs (down 26). 32 rigs are waiting to spud (down 9). 361 drilling permits were issued (down 28).
U.S. rig count is 475 active rigs (down 9). 55 rigs are waiting to spud (up 23). 394 drilling permits were issued (up 33)
RigData US rig count took a hit this week, down (-20) from 488 to 468. US Permit Count also down, (-72) to 445.
According to the RigData Locations & Operators Report, the U.S rig count dropped (-13) 439 this week. The U.S. Land rig count dropped (-12) to 383.