3rd week in a row that oil drillers have cut rigs
Baker Hughes weekly rig count totals have been released. They show:
- Total rigs, 817 versus 818 estimate. Last week was at 822
- Oil rigs, 684 versus 688 estimate. Last week was at 691
- Gas rigs, 130 versus 130 estimate. Last week was at 130
the price of crude oil is currently trading at $57.14 down $0.01 on the day
