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U.S. oil & gas rig count holds steady at record low -Baker Hughes

From reuters.com

U.S. energy firms kept the number of oil and natural gas rigs unchanged at a record low as the rig count fell for a fifth straight month, although July marked the smallest monthly decline due to a recovery in prices. The rig count, an early indicator of future output, steadied at the all-time low of 251 in the week to July 31, according to data on Friday from energy services firm Baker Hughes Co going back to 1940. RIG-OL-USA-BHI RIG-OL-USA-BHI RIG-GS-USA-BHI Before this week, the count had hit all-time lows for 12 straight weeks. In July, drillers cut 14 rigs, putting the count down for a fifth month in a row, ... (full story)

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  • Category: Fundamental Analysis