Baker Hughes oil rig count week ending 18 March 2016

  • Total rig counts 476 vs 480 prior
  • Rotary rigs 89 vs 94 prior
  • Nat gas 94 unch

Not much to write home about. WTI has dipped back below $40 to $39.75

Baker Hughes oil rigs

Update: Perhaps the bigger news is the Canadian numbers. It's being reported that the oil rig count is down over 50% to 12 from 28 while total rigs fell 29 to 69.