Rig counts rise!

Baker Hughes reports U.S. rig count up 12 to 312 rigs

Baker Hughes (BKR) reports that the U.S. rig count is up 12 from last week to 312 with oil rigs up 10 to 236, gas rigs up 2 to 73, and miscellaneous rigs unchanged at 3.

Baker Hughes has been reporting weekly rig counts for more than 50 years

The U.S. Rig Count is down 494 rigs from last year’s count of 806, with oil rigs down 438, gas rigs down 56 and miscellaneous rigs unchanged at 3.

The U.S. Offshore Rig Count is up 1 to 13, down 9 year-over-year.

The Canada Rig Count is up 3 from last week to 89, with oil rigs up 2 to 39, gas rigs up 1 to 50.

The Canada Rig Count is down 45 rigs from last year’s count of 134, with oil rigs down 49, gas rigs up 4.

Brent crude is down $0.83 to $42.70 per barrel. West Texas Intermediate (WTI) crude is down $1.00 to $40.12 per barrel.

Gasoline last traded at $1.12 per gallon, down 3 cents.

STOCKWINNERS

To read timely stories similar to this, along with money making trade ideas, sign up for a membership to Stockwinners.

This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.

Leave a Reply

Your email address will not be published. Required fields are marked *