US Oil Rig Count Collapses At Fastest Rate In A Year

Friday, February 19, 2016
By Paul Martin

by Tyler Durden
ZeroHedge.com
02/19/2016

Rig counts dropped for the 9th straight week but for the 3rd week in a row, US oil rig counts dropped heavily (down 26 this week after -28, and -31 in the last 2 weeks). The 85 rig drop is a 17% plunge over 3 weeks – the fastest pace since Feb 2015, and 2nd fastest since Feb 2009.

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