Oil prices rise as US rig count remains steady
- 1According to Baker Hughes data, the total number of active US drilling rigs remained at 603 for the second consecutive week.
- 2The EIA reported that US crude oil production for the week ending October 16 decreased to a weekly average of 13,269,000 barrels.
- 3Primary Vision reported that the Frac Spread Count for the week ending October 16 fell to 199, marking its first decline in six weeks.
So what's the key point?
The number of oil drilling machines in the US stayed at 603 for two weeks. Oil production decreased, causing changes in the market.
Source Oilprice.com +1 · View original ↗
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