• 5 minutes Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 11 minutes Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 15 minutes WTI @ 67.50, charts show $62.50 next
  • 14 hours The EU Loses The Principles On Which It Was Built
  • 6 hours Starvation, horror in Venezuela
  • 9 hours Why hydrogen economics does not work
  • 7 hours Again Google: Brazil May Probe Google Over Its Cell Phone System
  • 6 hours Tesla Faces 3 Lawsuits Over “Funding Secured” Tweet
  • 2 hours Mike Shellman's musings on "Cartoon of the Week"
  • 19 hours WSJ *still* refuses to acknowledge U.S. Shale Oil industry's horrible economics and debts
  • 1 day Chinese EV Startup Nio Files for $1.8 billion IPO
  • 7 hours Saudi Fund Wants to Take Tesla Private?
  • 23 hours Crude Price going to $62.50
  • 2 hours California Solar Mandate Based on False Facts
  • 2 hours Oil prices---Tug of War: Sanctions vs. Trade War
  • 18 hours Saudi Arabia Cuts Diplomatic Ties with Canada
Why Is Big Oil So Excited About Alaskan Crude?

Why Is Big Oil So Excited About Alaskan Crude?

Alaskan officials have just published…

Total U.S. Rig Count Drop Over 50%

Rig counts fell for a record 19th week in a row. Total rigs dropped 34 to 954 and oil rigs dropped 26 to 374. This means the total rig count drop is now greater than 50% - the fastest drop since 1986.

Crude prices had slid into the rig count announcement and popped afterwards.

Related: The Latest Media Attempts To Suppress Oil Prices

RigCount0415

This is a record 19th week of consecutive rig count declines...

Related: Is Saudi Arabia Setting The World Up For Major Oil Price Spike?

RigCountChart20415

Leaving the total rig count decline now over 50% - the most since 1986...

Related: The Inconvenient Truth About A Green Revolution

RigCountChart30415

Charts: Bloomberg

By Zerohedge

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News