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Rig count rises for record 22nd straight week

Published 06/16/2017, 01:15 PM
© Reuters.  Rig count rises for record 22nd straight week
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  • The U.S. rig count rises again, this time by 6 to 933 for a 22nd consecutive weekly increase, according to the latest Baker Hughes survey.
  • U.S. oil rigs rose by 6 to 747, also a 22nd straight weekly gain, natural gas rigs added 1 to 186, with no miscellaneous rigs; last year at this time, there were just 337 active U.S. oil rigs and 86 gas rigs.
  • The oil rig count has climbed by an average 6.75 rigs/week over the past four weeks, a gradually slower rate of increase, Reuters' John Kemp says.
  • ETFs: USO, UNG, OIL, UGAZ, UWT, UCO, DGAZ, DWT, SCO, BNO, BOIL, DBO, GAZ, DTO, USL, KOLD, UNL, DNO, OLO, SZO, DCNG, OLEM
  • Now read: Energy Week: Why Risk Management Is Key


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