Open Demo Account
Home / Market Update / Commodities / US Oil Rigs Drops to Record Low

US Oil Rigs Drops to Record Low

M. Ali 21 August, 2020 8:39 pm Commodities, Market Update

Oil rigs in the United States decreased by three rigs during the week ending on 14 August, data by Baker Hughes showed on Friday.

The US oil rig count declined to a new record low at a total of 244 rigs last week.

The continuous decrease in active oil rigs in the US comes despite the recent stabilization in crude prices.

Tags

Check Also

Bitcoin Retreats as Failed Ceasefire and Hormuz Blockade Chill Risk Appetite; Bhutan Liquidates 70% of Crypto Stash

Key Takeaways: Bitcoin slides back toward $71,000 as weekend U.S.-Iran ceasefire talks break down, erasing …

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