The weekly Baker Hughes rig count

  • Total rig count 1006 vs 1016 last week
  • Oil rig count 816 vs 824 last week
  • Gas rig count 190 vs 192 last week.

The price of crude is trading at $60.10 up $0.79 or 1.32%. The high reached $60.73. The low extended to $59.41

It is the 4th down week in a row for oil rigs. The high water mark for oil rigs reached 888 in November 2018. Today's number is the lowest since April 2018.

Oil rig count is down to the lowest level since