Total US rig count increased a somewhat stunning 19 last week to 876 - the highest since May. This is the biggest rise in rig count since August 2014. The oil rig count surged 21 to 659 - this is the biggest weekly rise since April 2014.
- *U.S. TOTAL RIG COUNT UP 19 TO 876 , BAKER HUGHES SAYS
- *U.S. OIL RIG COUNT UP 21 TO 659 , BAKER HUGHES SAYS
Louisiana (up 7) and Texas (up 8) saw the biggest increases.
The jump in total rig counts was big:
But oil rig counts surged by 21 - the most since April 2014.
The reaction - crude is sliding even further.