US drillers cut oil and gas rigs for 10th week in a row, Baker Hughes says
"(Reuters) -U.S. energy firms this week cut the number of oil and natural gas rigs operating for a 10th week in a row for the first time since July 2020, energy services firm Baker Hughes said in its closely followed report on Thursday.
The oil and gas rig count, an early indicator of future output, fell by eight to 539 in the week to July 3, the lowest since October 2021.
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- saustin
- Today, 12:02 PM
- Unique_Carpenter
- Today, 03:54 PM
And yes, the commodities future guys watch the rig counts.
For early 2024 over 700s in use, rest of 2024 600s, now in the mid 500s
Folks do not let a rig sit idle unless there's significant outside issues.
For early 2024 over 700s in use, rest of 2024 600s, now in the mid 500s
Folks do not let a rig sit idle unless there's significant outside issues.
- farmstud60
- Today, 05:29 PM
Which also means barrel prices of oil are lower, thus gas prices working lower, and reducing inflation pressure.
- Precious_b
- Today, 07:58 PM
See, we didn't need that canuck dirty sand oil pipeline.
Don't know why you maggies got your knickers in knots about it.
Don't know why you maggies got your knickers in knots about it.