Ahead of what could be an industry-changing presidential election in the US, a Rystad Energy analysis reveals that drilling and fracking activity has accelerated. North American fracking likely peaked in October at around 780 started jobs, with activity recovering from the trough touched in May and June. Meanwhile, our analysis of Baker Hughes data shows that the US horizontal oil rig count increased by 10 to 188, rising for a seventh straight week to reach its highest level since end-May. The increase in drilling activity comes against the framework of the US presidential election, where onshore fracking has remained a central issue. While most operators – already dealing with an unprecedented dislocation in the oil market – are unlikely to immediately alter their operating schedule, the outcome of the elections may compel them to review their capital allocation plans in future, especially if the industry faces greater restrictions or […]