Baker Hughes rig count for the current week:
- Oil rig -3 at 439
- Natural gas -1 at 113
- Total recount -4 at 555
Versus a year ago the oil rig count is down from 485 or -46 rigs. That is a decline of 9.5%. Despite the decline,US oil production is at 13.43 million barrels per day, up from approximately 13.10 million bpd one year ago (+2.5%)
This article was written by Greg Michalowski at www.forexlive.com.
