Total Rig counts down 5
Drillers have cut rig count for the 2nd week in a row. The breakdown is showing:
- Oil rigs, 784 versus 786 estimate. Last week rigs were at 788
- Gas rigs, 172 versus 174 estimate. Last week gas rigs were at 174
- Total rigs, 958 vs 958 estimate. Last week total rigs were at 963
The price of crude oil is currently trading at $60.47 up $.27 or 0.45%. The high reached $60.74 while the low extended to $59.93.