Baker Hughes: US Oil Rig Count Stable
The number of oil rigs in the United States stabilized during the week ending July 10, according to data released Friday by Baker Hughes, after rising over the previous two weeks.
Baker Hughes delayed the data release by about an hour without giving reasons so far.
Oil and gas rigs - USA Item | Year ago | Previous week | Current week | Weekly change | Change since year Oil rigs | 424 | 445 | 445 | 0 | 21 Gas rigs | 108 | 126 | 126 | 0 | 18 Oil and gas rigs | 532 | 571 | 571 | 0 | 39 What does that mean? Looking at the data over the past 12 weeks, the number of oil rigs increased by 35, while gas rigs rose by 1. An increase in rig counts points to a potential increase in production in the short term.
Original source: Argaam
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