The US oil rig count rose by 7 to 414 last week – the 11th straight week of increases (and 14th of the last 15 weeks). This is the highest rig count in 7 months and is tracking lagged oil prices perfectly still…
- *U.S. OIL RIG COUNT +7 TO 414 , BAKER HUGHES SAYS
- *U.S. TOTAL RIG COUNT +11 TO 508 , BAKER HUGHES SAYS
14th week of rising oil rigs in the last 15…
Very little reaction in crude prices which are already down 3% on the day, hovering around $46 the figure.
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