U.S. Markets close in 4 hrs 36 mins

US Crude Oil Rigs Recovered from a Two-Month Low

Gordon Kristopher
US Crude Oil Rigs Recovered from a Two-Month Low

Baker Hughes, a GE Company (BHGE), published its US crude oil rig count report on July 27. Baker Hughes reported that US crude oil rigs rose by three to 861 on July 20–27. The rigs hit 858 for the week ending July 20—near the lowest level since May 18. However, the rigs have increased by 95 or ~12.4% year-over-year.