7/12/2019, 7:22 PM (Source: TeleTrader)
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US oil rig count drops by four on weekly basis

There were 784 active oil rigs in the United States on Friday, Baker Hughes said in its regular report, noting the number dropped by four from seven days before. There were 172 units extracting gas or two less than last week while the number of miscellaneous facilities went to two from one. On an annual scale, the total in the three sections decreased by 79 and 17 and came in unchanged, respectively.

The update revealed the number of facilities in Canada mainly exploiting crude increased by five to 85 and that there were 32 gas rigs, compared to 40 one week earlier. The annual changes were 54 and 26 on the negative side, respectively.

Breaking the News / IT