Having risen for 6 of the last 7 weeks, the US oil rig count extended its run with a 14 rig surge this week – the biggest absolute rise since Dec 2015. Oil rigs have now risen 55 rigs in the last 8 weeks – the biggest percentage rise since Dec 2009. WTI is tumbling to fresh 3-month lows on the news…
- *OIL RIGS IN D-J/NIOBRARA ROSE BY 2 TO 18: BAKER HUGHES
- *OIL RIGS IN EAGLE FORD ROSE BY 2 TO 29: BAKER HUGHES
- *OIL RIGS IN PERMIAN ROSE BY 8 TO 168: BAKER HUGHES
The 14 rig surge to 371 is the biggest weekly percentage rise since Nov 2009…
And crude hit fresh 3mo lows…
The post Crude Drops After US Oil Rig Count Jumps Most Since 2009 appeared first on crude-oil.top.