Baker Hughes total oil rig count 984 vs. 981 last week

Oil rigs down to 796 vs 800 last week

  • Oil rigs fell 4 in the current week. That is the first decline after 6 straight increases.
  • Oil rigs 796 vs 800 last week
  • Gas rigs 188 vs 181 last week
  • Total rigs 984 vs 981 last week

Good and bad from the report this week.
The bad.  The string of oil rigs fell by 4 in the current week after 6 straight up weeks.The good. Gas rigs increased by 7 in the current week and that lifted total rigs for the week as well. 
Crude oil is trading at $61.74 up $1.64 on the day.  That is little changed from the pre-data value of $61.77.  Article Source

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