Here comes the Baker Hughes rig count ...
Oil driller Baker Hughes will release its weekly tally of US oil and gas rigs just after 2 p.m. ET.
Last week, the oil rig count fell to a new six-year low, by 8 to 343. It was the fifth straight weekly decline.
The gas rig count fell by 1 to 88, and so the total rig count was down 9 to 431.
When Baker Hughes released its quarterly earnings on Wednesday, it said it expects the North American rig count to stabilize in the second half of this year. It also cautioned that this doesn't mean drilling activity will meaningfully increase.
Crude oil prices advanced steadily over the past week, gaining about 7% through Friday. Ahead of the rig count data release, West Texas Intermediate crude futures in New York were down 0.5% and near $45.80 per barrel.
We'll have the latest at the top of the hour, so refresh this page for updates.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- Experts warn of rising temperatures in Bengaluru as Phase 2 of Lok Sabha elections draws near
- Axis Bank posts net profit of ₹7,129 cr in March quarter
- 7 Best tourist places to visit in Rishikesh in 2024
- From underdog to Bill Gates-sponsored superfood: Have millets finally managed to make a comeback?
- 7 Things to do on your next trip to Rishikesh