- The total U.S. rig count plunges by 25 to 1,050, according to the latest weekly survey from Baker Hughes.
- The count of active oil drilling rigs in the U.S. tumbled by 21 to 852, the biggest weekly decline since February 2016, while gas rigs fell by 4 to 198.
- WTI crude oil remains sharply higher, recently trading +3.1% at $53.68/bbl.
- ETFs: USO, UNG, OIL, UGAZ, UWT, DGAZ, UCO, DWT, SCO, BNO, BOIL, DBO, DTO, USL, KOLD, UNL, DNO, OLO, SZO, OLEM, WTIU, OILK, OILX, WTID, USOI, USOU, GAZB, USOD, OILD, OILU, USAI
U.S. oil rig count tumbles by 21 in Baker Hughes survey
This was corrected on 11/11/2021 at 10:48 AM. The headline has been corrected to reflect the accurate oil rig count rather than the overall count for both oil and gas rigs.