Rising Rig Count Leads US Shale To Kill Off The OPEC-Driven Oil Price Rally
With US crude inventories at record highs and production surging higher, the ongoing oil rig count rise in America (up 8 to 617 - 8th week in a row and highest since Sept 2015) signals more 'problems' ahead for a record level of speculative long positioning in black gold.
- *U.S. OIL RIG COUNT UP 8 TO 617 , BAKER HUGHES SAYS :BHI US
- *U.S. GAS RIG COUNT UP 5 TO 151 , BAKER HUGHES SAYS :BHI US