Oil

Another week, another post. This occasion, noting that the Baker Hughes rig count (there was a time we watched this weekly update almost religiously; we find ourselves doing this again now) is slowly climbing again.

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Both it and US total production are, albeit slowly, heading back towards prior peaks, encouraged by everything from the Biden administration to high prices to screaming customers to supply-chain restraints easing (things like COVID isolations, raw materials access, shipping and freight costs).

Also, it was interesting to note the below article, which details the flow of oil, gas and coal to China from Russia, priced in yuan. Our point, a little like the dinosaurs from Jurassic Park, supply [“life”] finds a way.

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