Rig Count

Rig Count – July 22, 2016

Baker Hughes revealed a weekly climb in the number of active U.S. rigs drilling for oil, the fourth increase in a row.  Rigs targeting crude in the U.S. rose by 14 to 371, after 27 were added since the start of the month.  Natural gas rigs declined by 1 to 88, bringing the total for oil and gas up by 15 to 462.  September crude CLU6, was at $43.94 a barrel on the New York Mercantile Exchange, down 81 cents, from Thursday.  Schlumberger and Halliburton have both recently called the bottom. Do you think oil has stabilized or are we headed back down to historic levels?

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