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Home > Crude Barely Notices After Oil Rig Count Plunges Most In 2 Months

Crude Barely Notices After Oil Rig Count Plunges Most In 2 Months

By Tyler Durden
Created 12/11/2015 - 13:07
Tyler Durden's picture [1]
Submitted by Tyler Durden [1] on 12/11/2015 13:07 -0500



 

Amid the carnage in crude markets today, Baker Hughes just reported a 21 rig drop in oil rigs - the biggest absolute drop in 2 months. The total rig count dropped 28 to 709 - the lowest since 1999.

 

  • *U.S. OIL RIG COUNT DOWN 21 TO 524, BAKER HUGHES SAYS

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Oil barely budged...

[4]

 

Here's why... because production has barely budged...

[5]

 

Charts: Bloomberg

 

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Source URL: http://www.zerohedge.com/news/2015-12-11/crude-barely-notices-after-oil-rig-count-plunges-most-2-months

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