Brocker.Org: US oil rig count rises for ninth straight week

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Environmental
activists from the Duwamish Tribe protest the arrival of the
Polar Pioneer, an oil drilling rig owned by Shell Oil, as it
comes on May possibly fourteen, 2015 in Seattle,
Washington.

Karen
Ducey/Getty


The US oil-rig count rose this week by fourteen to a total of 631,
oilfield-products and services huge Baker Hughes explained. 

The gas-rig count rose by six to 157. One particular miscellaneous rig was
introduced on the web, and so the total rig count rose by 21 to 789.

The oil-rig count is a critical proxy for US creation concentrations and
shale-industry expenditure. Robust creation — which has outpaced
the rate of the rig count’s climb — has undermined efforts by the
Group of Petroleum Exporting International locations to raise costs by
cutting output. 

Past week, the
oil-rig count
rose by 8  and the gas rig count
greater by 5. One particular miscellaneous rig was taken
offline.


West Texas Intermediate crude oil
is one of the worst
doing commodities yr-to-day, and final week saw its
greatest weekly drop due to the fact late-October. Next the
rig-count launch, WTI futures for April shipping were on rate
for a .5% weekly get.

The oil rig count is at the maximum amount due to the fact September
25, 2015. 3 17 17 oil rigs chartAndy Kiersz/Enterprise
Insider

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