The Traderszone Network

Published in TZ Latest News 30 June, 2017 by The TZ Newswire Staff

US Oil Rig Count Drops For First Time In 24 Weeks As Trump Unveils US-Mexico Petroleum Pipeline

Last week saw US crude production decline by the most since Aug 2016 (perhaps affected by ‘Cindy’) and given the lagged response to WTI prices, many expected the oil rig count to drop this week. As WTI heads for its 7th up-day in a row – the longest streak in 6 months – it is supported as the US oil rig count dropped 2 to 756, the first drop in almost 6 months.

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