Here comes the Baker Hughes rig count ...
Advertisement
REUTERS/Balazs Koranyi
Advertisement
Last week, the tally did not increase for the first time in nine weeks. The rebound in the count that preceded that flattening came as crude oil approached $50 per barrel and some producers became more confident in the industry's outlook.
The total rig count last week was 489, as gas rigs fell by 2 to 81.
West Texas Intermediate crude oil is headed for its worst week since March, even amid a 3% rebound on Friday. Futures tanked on Wednesday after the Energy Information Administration reported a greater-than-expected build in US inventories.
Futures traded near $44.48 per barrel ahead of the rig-count release.
Advertisement
Advertisement
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Having an regional accent can be bad for your interviews, especially an Indian one: study
- Dirty laundry? Major clothing companies like Zara and H&M under scrutiny for allegedly fuelling deforestation in Brazil
- 5 Best places to visit near Darjeeling
- Climate change could become main driver of biodiversity decline by mid-century: Study
- RBI initiates transition plan: Small finance banks to ascend to universal banking status