03-12-2022, 10:27 AM
It would seem normal that rig counts continue to grow. Oil bulls seem to believe it will not tame oil prices soon. I don't rule out the possibility it will become more important late this year after peak travel season. It's about more than auto and jet fuel though. World economy growth rate predictions are gradually being pulled back. That seems like a more important concern for oil investors, and other sectors for that matter.