US Rig Count Tumbles To Fresh Record 41-Year Lows

Friday, April 1, 2016
By Paul Martin

by Tyler Durden

With US crude production starting to drop, the lagged plunge in oil rig counts appears to be having some effect. Baker Hughes reports that the number of US oil rigs dropped 10 to 362 (14th weekly drop of last 15), the lowest since Nov 2009. The total rig count tumbled 14 to 450, fresh record 41-year lows. Crude was leaking lower into the data and rose modestly after.

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