US Oil Rig Count Plunges By Most In 10 Months

by Tyler Durden
ZeroHedge.com
02/12/2016

Following last week’s dramatic 31 rig decline, Baker-Hughes reports another major decline of 28 oil rigs (dropping the total oil rigs to 439 – lowest since Jan 2010 – for the 8th consecutive week). The total rig count dropped 30. On the heels of OPEC rumors overnight and then re-rumored bullshit from Venezuela, oil prices had already surged during the day and the biggest 2-week rig count decline in 10 months after initially being sold, is rallying once again.

The Rest…HERE

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