U.S. oil rig count slides again
In the last few weeks, we saw something of a comeback in the oil-rig tally relative to its recent trend. The oil rig count rose last week for a third straight period — the longest streak since August 2015 — by 9.
Some producers brought rigs back online as crude oil rallied and crossed $50 per barrel.
But this week, the oil rig count fell by the most in six weeks. The gas rig count rose by 4 to 90, taking the total down 3 to 421. ■