Crude Lifts As Pace Of Rig Count Decline Slows

This was the smallest absolute rig count decline since December 5th 2014. Down 11 to 894 total rigs, this is a record 22nd weeks of consecutive declines.

Charts: Bloomberg

Comments

[HedgeAccordingly]

... many wells cracked and waiting to produce, which is why production is staying steady as well count falls..  Baker Hughes Announces Suspension of the Well Count 

http://hedgeaccordingly.com/2015/04/baker-hughes-announces-suspension-of...

[Oh regional Indian]

The only real "Moving" factor for oil's rise out of this deep well will be a larger war than is currently being waged.

Look at that word. Wage.

You wage a war?

What can that even imply once you see through the deception?

???

Meanwhile, blow the cobwebs from your minds (if any), deep bass listening recommended:

https://www.youtube.com/watch?v=5BrvoWEw2J8

[Newsboy]

Take that rig and shove-it, boys!

You'll release some gas.

[HonkyShogun]

"Crude Lifts as Unelected Assholed Decide to Squeeze Us Yet Again"

[walküre]

Less demand, more production, higher prices? Got it!

[KnuckleDragger-X]

The rig count is getting close to historical average which isn't a bad thing except for the people trying to play the get rich quick game.  Brent and WTI are getting close to parity again and last time they did the market took a big crap. How the summer driving season goes will have a big effect on the markets. A bad season will likely collapse everything.....

[q99x2]

Stability!