Courtesy of ZeroHedge. View original post here.
Submitted by Tyler Durden.
The total rig count dropped by just 3 last week – the smallest decline since December – to 885, tracking perfectly with the 4-month lagged oil price we have been showing for 4 months.
Oil rigs dropped just 1 on the week to just 659 – the lowest since August 2010. Oil prices are unch.
- *U.S. OIL RIG COUNT FALL 1 TO 659 ,BAKER HUGHES SAYS
Charts: Bloomberg