Total rigs up three at 503. Crude oil remains down over one dollar today for the seventh consecutive decline
The Baker Hughes rig count show:
- Oil rigs +8 to 405
- Gas, -5 to 97
- Total Rigs, +3 to 503
The price of crude oil remains down $1.08 or -1.69% at $62.54. Barring a rally into the close, a lower close will be the seventh day in a row.
Since the last high on July 19, the price is down -19.3% (to today’s low). The move down over the last 7 days has seen the price move down -10.7%.