Our weekly commentaries and updates will remain free until April 2019. Effective April 2019, a subscription will be required in order to receive them. Of course, clients of Fundamental Analytics and BlackSummit Financial Group will continue receiving our weekly content for free.
Baker Hughes Oil Rigs January 18, 2019
Crude Oil Rig Count
Latest Baker Hughes Report
The Baker Hughes rig count reported U.S. oil rig count decreased by 21 to 852.
This is the third week of rig count decreases despite the $11 crude price rally since the end of December. As we have mentioned before, producers may be cautious about drilling plans for 2019 due to the uncertainty of a permanent recovery in crude oil prices. If prices continue to rise and reach sustained $60 levels rig count may increase.
We would be happy to discuss this commentary with you and provide additional market insights
Feel free to call us at 312-348-7518 or email us at firstname.lastname@example.org
For further information contact email@example.com