The big news from the U.S. this week was new data that showed that the weekly rig count…actually increased. That’s right, after 29 consecutive weeks of rig count declines, the industry may have finally hit bottom and could be on its way back. For the first time in seven months the U.S. saw additional rigs added into operations. Baker Hughes reported that an additional 12 oil rigs came into service for the week ending on July 2, although natural gas rigs declined by 9, for a net gain of 3 rigs.
….read the Top 4 Reasons Oil is Heading Down HERE
