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After months of volatility, oil prices have finally hit a high not seen since March 2020.
On December 10, 2020, Brent crossed the $50 / barrel marker. That is even after the EIA reported an unexpected supply build of 15.2 million barrels in the week ended December 4.
U.S. crude exports plunged by 1.6 million barrels per day to 1.8 million barrels per day, which was the lowest since 2018.
Brent Prices
WTI Prices
Higher oil prices are driving operators to increase rig count and frac spreads into year-end.
Rig Activity
Up +37 rigs in the last month.
Frac Activity
Operators continue to put more frac fleets back into the market as Price recover.
Click here to get frac activity by Basin.
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