Oil Slides After Rig Count Spikes Most Since April 2013
While a desperate Saudi Arabia jawbones how well OPEC production cuts are going, the road ahead looks like a surge in US Shale supply is coming. Following a brief dip in the previous week, US oil rig counts soared 29 to 551 last week - the biggest weekly rise sicne April 2013 - to the highest since Nov 2015.
*U.S. OIL RIG COUNT UP 29 TO 551 , BAKER HUGHES SAYS :BHI US
(Click on image to enlarge)
Which signals to OPEC that more production is coming...
(Click on image to enlarge)
And WTI prcied are leaking lower...
(Click on image to enlarge)
How did you like this article? Let us know so we can better customize your reading experience.
Comments
Leave a comment to automatically be entered into
our contest to win a free Echo Show.
