Rig Count Unexpectedly Declines Following Biggest Crude Production Surge In 20 Months

By Tyler Durden of Zero Hedge
Friday, January 13, 2017 2:06 PM EDT

Following the biggest jump in US crude production since May 2015, the US oil rig count trend continues to point to further rises in production.

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However, the US oil rig count tumbled most since June (-7 to 522) in the latest week. 

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This is the fiurst drop in rig counts in 14 weeks. 

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