Baker Hughes US oil rig count unchanged- Oil rigs unchanged at 482
- Natural gas rigs -3 to 98
Overlooked in all the drama in markets this week was the EIA report massively revising lower US oil production. It's barely risen in the past year now, highlighting some risks going forward to supply.
That said, the market is totally focused on demand at the moment with WTI down $3 today.
This article was written by Adam Button at www.forexlive.com.
Source: Baker Hughes US oil rig count unchanged (https://www.forexlive.com/news/baker-hughes-us-oil-rig-count-unchanged-20240802/)
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