Oil Rigs Rise For 12 Straight Weeks; Threaten Oil Price Recovery | Zero Hedge

For the 12th week in a row, the number of US oil rigs rose (up another 10 to 672 – the highest since September 2015). US Crude production continues to track the lagged rig count, pouring more cold water on OPEC’s production cut party.

Source: Oil Rigs Rise For 12 Straight Weeks; Threaten Oil Price Recovery | Zero Hedge

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