- Oil prices traded lower as traders weighed more hawkish comments from the U.S. Federal Reserve officials (BBG)
- James Bullard, the Federal Reserve Bank of St. Loius President, said on Monday that the U.S. central bank shouldn't rule out rate increases of 75 basis points
- China promised to restore its economy after lockdowns disrupted growth, likely leading to a sharper recovery there
- Operators in the Permian basin have chewed further into their supply of ready-made wells for the 20th straight month (Bloomberg)
- The number of DUC wells stood at 1,309 last month, according to the EIA’s drilling productivity report
- The reduction in DUCs leaves the U.S.'s most prolific basin with the smallest inventory of low-cost wells in more than half a decade