Open Demo Account
Home / Market Update / Commodities / U.S. Oil Rigs Decline for First Time Since March

U.S. Oil Rigs Decline for First Time Since March

M. Ali 23 April, 2021 10:30 pm Commodities, Market Update

The number of active rigs drilling for crude oil in the United States declined this week, for the first time since March, despite rising oil prices encouraging a rise in production.

Oil rigs decreased by a single rig to reach 343, while natural gas rigs maintained their level of last week at 94, according to data by Baker Hughes, released in their weekly report on Friday.

Accordingly, the total rig count reached 438 for the week ended 23 April.

Tags

Check Also

Core PCE

What can markets expect from the PCE print?

Market expectations are pointing toward a fresh decline in both headline and core Personal Consumption …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends