Mar. 11 at 4:51 AM
Oil prices are surging, but U.S. production won't follow, unless market stability returns.
According to Patterson-UTI CEO Andy Hendricks, higher energy prices from the Middle East don't guarantee more drilling.
In December, oil was in the
$50S, yet it takes over six months to bring new wells online.
Now, oil is mid-
$80S after hitting
$119.
The real question: What's oil pricing going to look like in 6-9 months?
Much hinges on Iran's stability and the Strait of Hormuz reopening.
If Permian output slows this year, expect prices to climb further, creating a catch-22.
Stay alert, market moves depend on geopolitical fixes.
Are you adjusting your strategies accordingly?
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$PTEN $XLE $UCO #Oil #Iran #Tehran #Stocks
