Rig Count Falls Again for the Fourh Week Crude prices remained steady as Baker Hughes reported its weekly count of U.S. oil rigs ticked down for a fourth consecutive week.
The number of rigs drilling wells in U.S. oilfields fell by four last week, bringing the total to 640. At this time last year, drillers had 1,592 rigs online.
A decline in the rig count indicates potential declines in future oil production. Come on
Baytex get your share price in check with reality and get back up over $10.
Meeky