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Industry News
11th October 2017

U.S. rig count still stuck, oil falls back below $50

Dipping by four last week, Friday's count provided by oilfield services provider Baker Hughes can't seem to gain any positive traction. The count bottomed out at 404 in May of 2016 and then rose nearly every week for the next 14 months. It seemed destined to reach 1,000, but peaked at 958 this past July 28. It fell for the next four weeks to 940 on Aug. 25 and has been up-and-down since, checking in at 936 in last week's count.

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