Baker Hughes US oil rig count 343 vs 351 prior
Oil and gas rig data from Baker Hughes:
- Fresh low since Nov 2009
- Prior oil rigs 351
- Natural gas rigs 88
- Prior gas rigs 89
- Total rigs 431
- Prior total rigs 440
Oil rigs have fallen dramatically since the beginning of 2015 but that doesn't tell the whole story. Efficiency is far greater than before and many long-term plays have come on-line. US production is down just 4.4% year-over-year.
Oil rigs
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
