Oil rig count falls again

Oil rig count falls again

Baker Hughes reported today that the number of rigs drilling for oil in the United States fell by another 15 to 222 this week. This is the 11th straight weekly decline. The total active rig count, which includes oil and natural gas drilling rigs, dropped by 17 to 301....
Saudis ramp up oil production

Saudis ramp up oil production

 The first tankers in what looks like a long fleet of tankers are loading now in Saudi Arabia on their way to Europe and the United States in April. The Saudi government looks to be making good on its announced increase in output to a record 12.3 million barrels a day...
Saudis ramp up oil production

Oil rig count drops, pain to get worse

The U.S. oil and natural gas industry idled 40 more drilling rigs this week. That brings the U.S. total to 59 rigs idled in the last two weeks, almost 9% of the rig total. Worse yet, more than half of the idled rigs were in the Permian basin of West Texas. That...