US Oil Rig Count Rises At Fastest Pace Since Dec 2011

Jon Alternative Media, Blogosphere, Energy, Market Commentary

The US oil rig count rose 6 to 357 this week – this is 6th rise of the last 7 weeks (up 41 rigs) – the biggest absolute rise since May 2014. Off the lows, the US oil rig count is now up over 10% – the most since Dec 2011. Of course, oil prices are rallying on this news…
*U. S. OIL RIG COUNT UP 6 TO 357, BAKER HUGHES SAYS The oil rig count continues to track 3mo lagged WTI prices almost perfectly…

This post was published at Zero Hedge on Jul 15, 2016.