The supply side is starting to respond. I'm involved in re-activation projects for 8 Jack up rigs that have been stacked in Singapore being mobilized to Saudi Arabia.
one of these drilling contractors has procured another 4 jack ups also destined for Saudi.
Middle East in general land rig counts are increasing as well.
US land rig count (shorter lead time to production) continues to increase.
Deepwater rig utilization rates also increasing.
My 2 cents, ymmv, dyor
World at Maximum Crude Pumping Capacity ..., page-3
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