Just cross fingers that oil doesn't stay there as drilling has been slow for a while. It you see the number of DUCs drop in the next 6 months but no change in active rig count, expect this to potentially impact price the other direction in a couple years. One should be hoping oil stays above 55 unless there's some way to reduce frac costs. Look back at the headlines from 1997 about the era of cheap oil. That killed investment and everyone paid the price a few years later.
And its also interesting that Saudi Arabia announced this week that they are upping their production numbers.
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Its always an interesting market to look at. Was amusing to see the tariffs on Guyana. Blanket approach maybe a little silly in that instance!
10% minimum on everyone!
