WTI Slides After Biggest Rig Count Spike In 16 Months

The US oil rig count surged by 19 to 471 last week - the biggest weekly rise since July 2015 back to 9-month highs. This is the 22nd weekly rise in the last 24 weeks and is occurring as US crude production is beginning to rise once again.

  • *U.S. OIL RIG COUNT UP 19 TO 471 , BAKER HUGHES SAYS :BHI US
  • *U.S. GAS RIG COUNT UP 1 TO 116 , BAKER HUGHES SAYS :BHI US

Tracking lagged WTI prices still...


 

And US production is on the rise...

 

WTI prices slipped on the print...

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