Total rigs lower to 949 vs 954 last week

The weekly Baker Hughes rig count is out and the results show:

  • Oil rig count up to 768 vs 765
  • Total rig cound 949 vs 954 last week
  • Gas rigs down to 181 vs 189 last week.

Crude oil is trading at $48.48 currently. The high today extended to $48.69. The low reached $47.98.