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US Crude Oil Rigs Approach a Two-Month Low—What’s Next?

Gordon Kristopher
US Crude Oil Rigs Approach a Two-Month Low—What’s Next?

Baker Hughes, a GE company (BHGE) published its US crude oil rigs report on July 20. It reported that US crude oil rigs fell by five to 858 from July 13 to July 20. Rigs were near the lowest level since May 18. However, rigs have risen by 94 (~12.3%) from a year ago.