US Oil Rig Count Rises For 17th Straight Week As Crude Production Nears Record Highs

For the 17th week in a row, the number of US oil rigs rose (by 9 to 712) but US gas rigs fell.

  • *U.S. OIL RIG COUNT UP 9 TO 712 , BAKER HUGHES SAYS :BHI US
  • *U.S. GAS RIG COUNT DOWN 1 TO 172 , BAKER HUGHES SAYS :BHI US

Texas saw an additional 8 rigs added.

 

That's the highest level since the week of April 17, 2015, and the longest stretch of increases in six years.

US Crude production follows its lead to within 2% of record highs...

 

Just don't show Goldman (or OPEC).