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Is the Oil Rig Count Signaling Trouble for Oil Prices?

Robert Scott
Is the Oil Rig Count Signaling Trouble for Oil Prices?

Why Oil Prices Are Helpless(Continued from Prior Part)Oil rig count Last week, the oil rig count rose by ten to 883. The rig count tends to follow US crude oil prices with a three to six-month lag. In February 2016, US crude oil prices fell to the lowest closing level in 12 years.