Active Rigs At 56; WTI Below $45 -- June 19, 2017

Active rigs:

$44.91	6/19/2017	06/19/2016	06/19/2015	06/19/2014	06/19/2013
Active Rigs	56	28	77	189	186

RBN Energy: RBN's video replay of its spring, 2017, school of energy is available.

Re-balance: Saudis "talking their book." My thoughts. But hey, the Saudis are a whole smarter than the rest of us. The Saudis have historically budgeted for $100-oil; they have re-budgeted for $80-oil; they might settle for $60 in the near term; they'll be lucky to get $50 by the end of the year without any major geopolitical event.

What a doofus