The number of active U.S. rigs falls by 16 rigs to 578 last week

Market news

2 November 2015

The number of active U.S. rigs falls by 16 rigs to 578 last week

The oil driller Baker Hughes reported on Friday that the number of active U.S. rigs declined by 16 rigs to 578 last week. It was the ninth consecutive decrease and the lowest level since June 18, 2010.

Combined oil and gas rigs declined by 12 to 775. It was the lowest level since April 2002.

Standard & Poor’s cuts Saudi Arabia’ credit rating to A+

The Wall Street Journal’s poll: investment banks expect Brent crude to be $58 a barrel and WTI crude to be $54 a barrel next year

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