Weekly US oil and gas drilling rigs from Baker Hughes
- prior week's report
- Oil rigs 805 versus 823 estimate. Last week 825
- gas rigs 186 versus 185 estimate. Last week 187
- Total rigs 991 versus 1006 estimate. Last week 1012
It is curious that as the price of oil has reached higher levels, that the oil rigs have declined. Oil rigs are at the lowest level since March 2018.
The price of crude oil has moved up marginally to $62.72