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U.S. oil rig count drops for 11th straight week

Mar. 04, 2016 1:44 PM ETUCO, USO, OIL-OLD, DBO, UNG, GAZ-OLD, USL, DTO, OLO-OLD, SCO, DNO, UNL, BNO, DCNG, BOIL, KOLD, UGAZF, DGAZF, UWTI, DWTI, SZOXF, OILBy: Carl Surran, SA News Editor61 Comments
  • The count of U.S. active oil rigs fell by 8 in the past week to 392, Baker Hughes reports, in the 11th straight week of declines.
  • The total U.S. rig count, which includes a drop of 5 natural gas rigs to 97, fell by 13 to 489, just one away of the lowest count for total rigs since April 23, 1999.
  • The total rig count is down 703 rigs (59%) from last year's 1,192, with oil rigs down by 530 (57%), gas rigs down by 171 (64%).
  • ETFs: UNG, USO, OIL, UGAZ, UCO, DGAZ, UWTI, SCO, BNO, BOIL, DWTI, GAZ, DBO, DTO, KOLD, USL, UNL, DNO, OLO, SZO, DCNG, OLEM

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