US active rig count sits at 562 and shows no year over year growth
Global inventories face record drawdown and leave market with minimal supply buffer
Iran agreement contain multi month negotiation phase that delay return of shipping traffic
Pricing signal that drive new production remain muzzled by policy and risk
Supply chain disruption force tanker to take long route and keep cost high
Infrastructure repair in complex oil field will take up to year to complete
Market remain in crisis with price well above pre war baseline of $70 per barrel