Total Rig Count Decline Fastest Since 1986 As Weekly Rig Count Drop Re-Accelerates

Friday, April 10, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
04/10/2015

With crude production and inventories hitting record highs this week, it is likely no surprise that rig counts continued to decline – falling 40 to 988 total rigs (and down 42 to 760 oil rigs). This is the 18th week in a row of total rig count declines – equal to the record series from 2008/9. At 48.5%, this is the biggest 18-week decline since 1986.

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