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U.S. oil rig count drops by another eight, Baker Hughes survey says

Apr. 22, 2016 1:58 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 Editor125 Comments
  • The number of active U.S. oil rigs fell by 8 to 343 for a fifth consecutive week of declines, according to Baker Hughes' latest weekly survey.
  • The total U.S. rig count, which includes a decline of one gas rig to 88, drops by 9 to 431, 73% fewer than the peak of 1,609 in October 2014.
  • In the past year, the total rig count is down 54% from 932, and oil rigs are 51% lower from 360.
  • ETFs: USO, UNG, OIL, UWTI, UGAZ, UCO, DGAZ, DWTI, SCO, BNO, BOIL, DBO, GAZ, DTO, USL, KOLD, UNL, DNO, OLO, SZO, DCNG, OLEM

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