US drilling permits yet to show price impact

摘要

Houston-Even as NYMEX oil prices have crept down to the mid-$50s/barrel level and nested there for the last week or so, the number of recently issued land drilling permits appear largely in line with historical averages. A look at permitting activity stretching back to mid-June, when oil began its gradual descent from a recent peak around $107/b, shows that while permitting is down from six months ago, the drop has not been that great.