Oil Pulls Back After U.S. Rig Count Sees Significant Increase

Baker Hughes has reported that the number of oil and gas rigs
in the United States rose this week, bucking the downward trend of
recent weeks.  The number of oil rigs climbed by 9 this week,
while the number of gas rigs stayed the same. WTI and Brent have
both continued a steady upward climb as the market grows bolder in
believing that OPEC can rebalance the market, and after a series of
surprise arrests in Saudi Arabia provided a bit of instability
concerning oil supplies in the region.   The total oil and gas
rig count in the United…

Baker Hughes has reported that the number of oil and gas rigs
in the United States rose this week, bucking the downward trend of
recent weeks.  The number of oil rigs climbed by 9 this week,
while the number of gas rigs stayed the same. WTI and Brent have
both continued a steady upward climb as the market grows bolder in
believing that OPEC can rebalance the market, and after a series of
surprise arrests in Saudi Arabia provided a bit of instability
concerning oil supplies in the region.   The total oil and gas
rig count in the United…