Baker Hughes US oil rig count 499 vs 506 prior

I'm surprised to see oil rigs dropping despite higher recent oil prices but producers are showing discipline. That certainly adds some downside risks to year-end US production estimates. US gas production has also been dropping fast and that's a big reason why natty is up almost 6% today.Oil rigs 499 vs 506 priorGas rigs 102 vs 105 prior This article was written by Adam Button at www.forexlive.com.

May 4, 2024 - 00:00
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Baker Hughes US oil rig count 499 vs 506 prior

I'm surprised to see oil rigs dropping despite higher recent oil prices but producers are showing discipline. That certainly adds some downside risks to year-end US production estimates. US gas production has also been dropping fast and that's a big reason why natty is up almost 6% today.

  • Oil rigs 499 vs 506 prior
  • Gas rigs 102 vs 105 prior
This article was written by Adam Button at www.forexlive.com.
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