Oil Rig Count Fell in July - What's Next For Oil Prices?
Last week saw the international Rig count go down again. Rig count is a way to measure increases and decreases in near term oil supply; the more rigs the more crude oil that will be drilled. Internationally the Rig count for July 2015 was 1,118 which is lower by 264 from the count in July 2014. In the US, the count increased by six rigs to 670 but this is still far away from a high of 1,609 rigs reached in October last year... Continue reading on FXstreet.com
WTI OIL Day-Chart: