As oil producers in North America cut budgets, drilling and the number of rigs, the auction market for energy equipment is booming and more active since the oil recession of the 1980s , the auctioneers told Reuters. It is an accurate indicator of the state of the oil market. Auctioneers from Texas to North Dakota and Alberta to Canada sell platforms, trucks, tankers, fuel tanks, coiled tubing units and all kinds of equipment that drillers do not use due to the collapse of drilling activities across the American shale area. In the week before June 5, the number of oil and gas platforms in the United States fell by 17, falling below 300, with a total of 691 fewer oil and gas platforms than the same period last year. The number of oil rigs fell for the week by 16 rigs, according to data from Baker Hughes, bringing the total to 206, compared to 789 active rigs at play in the same period last year. Following the collapse in oil prices in March, the Texas mining sector – almost entirely oil and gas – registered 32,800 jobless claims accumulated between the week ending March 7 and the week ending April 25. This represents about 137 claims for 1,000 mining wages in February, the Dallas Fed announced last month. Falling oil and gas drilling and completion activity across America has made the auction market the most active since the oil glut of the 1980s, San Antonio-based auctioneer Dan Kruse told Reuters founder of Superior Energy Auctions. Next week, Superior Energy Auctions will auction oilfield equipment, trucks and trailers in Odessa, Texas, in the heart of the Permian shale, which saw drilling stop as a result of the collapse in oil prices. Ritchie Bros., the world’s largest equipment and truck auctioneer, held its largest auction in Texas earlier in June. The auctioneer sold approximately 5,300 pieces of equipment and trucks for more than $ 81 million in Fort Worth, according to Reuters. Nick Note: Reality is oil demand is not coming back and their is a lot of money to be made here but it is difficult and tricky to trade.