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Home > Oil Prices Unmoved By Oil Rig Count Decline Of Just 1

Oil Prices Unmoved By Oil Rig Count Decline Of Just 1

By Tyler Durden
Created 05/22/2015 - 12:44
Tyler Durden's picture [1]
Submitted by Tyler Durden [1] on 05/22/2015 12:44 -0500



 

The total rig count dropped by just 3 last week - the smallest decline since December - to 885, tracking perfectly with the 4-month lagged oil price we have been showing for 4 months.

[2]

 

Oil rigs dropped just 1 on the week to just 659 - the lowest since August 2010. Oil prices are unch.

  • *U.S. OIL RIG COUNT FALL 1 TO 659  ,BAKER HUGHES SAYS

[3]

 

 

Charts: Bloomberg

 

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Source URL: http://www.zerohedge.com/news/2015-05-22/oil-prices-unmoved-oil-rig-count-decline-just-1

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[2] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2015/05-overflow/20150522_rig.jpg
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