Oil prices sink as weak U.S. economic data dims demand outlook. – cnbc.com Brent crude futures lost 49 cents, or 0.8%, to $58.76 a barrel,…
Tag: Drilling Rig Count
More Oil With Less Drilling Rigs
According to a recent Bloomberg story: “In June 2014, the U.S. pumped 8.4 million barrels of crude using 1,545 drilling rigs. Last month, it produced…
Do we have a Shale Slowdown? Speculators are running crazy
Oil speculators are calling a bear market because of the lack of rig count? it looks like they forget that is was Wall-street that asked…
Drillers added 10 oil rigs in the week to Dec. 21
U.S. energy firms added oil rigs for the first time in the past three weeks despite sharp declines in crude futures to their lowest since the summer of 2017.