Oil Tumbles Most in Five Weeks Amid Iraqi Compliance Concerns
of note :
[U.S. drillers boosted the rig count by four to 529 last week, according to data Friday from Baker Hughes. It’s the highest level since the week ended Jan. 1, 2016. Companies have added more than 100 rigs since the end of September.]
EIA shows a rebound from ~8500 thousand bpd level in Oct to 8700+ levels now.
It seems them shale diggers are coming back and with higher prices >$50 will be able to hedge and i think produce profitably for next couple years.