Here comes the Baker Hughes rig count ...
Advertisement
Reuters
Advertisement
Last week, the tally of oil rigs increased by three to 477, lifting it to the highest level since the start of this year.
US oilfield services companies have seen stronger demand from producers, and this could continue. OPEC has agreed to its first output cut in eight years, and this already lifted oil prices. There are doubts about the implementation, but higher oil prices could continue to prompt more producers to bring rigs back online.
West Texas Intermediate crude oil futures were up 1.3% to $51.48 per barrel ahead of the release.
Advertisement
Advertisement
- 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.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- From terrace to table: 8 Edible plants you can grow in your home
- India fourth largest military spender globally in 2023: SIPRI report
- New study forecasts high chance of record-breaking heat and humidity in India in the coming months
- Gold plunges ₹1,450 to ₹72,200, silver prices dive by ₹2,300
- Strong domestic demand supporting India's growth: Morgan Stanley