Baker Hughes US oil rig count 480 vs 475 prior

  • Oil rigs rise by 8
  • Total rigs 586 vs 579 prior
  • Gas rigs +1

US drillers will need to really step up the pace of drilling if they want to keep production flat. The inventory of drilled up uncompleted wells is rapidly depleting.

WTI is finishing the week strong as it clears the December highs and rises 91-cents to $73.68.

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