Rig Counts Mixed On Oil Prices (OIH, USO, OIL)
The weekly rig count data from Baker Hughes Incorporated (NYSE: BHI) is out, and it seems that the corrective phase in the price of oil is starting to create mixed data in the rig counts. There is always the notion…
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U.S. Rig Count is up 20 from last week at 1161; down 629 year over year.
Canadian Rig Count is down 10 from last week at 354; down 36 year over year.
The US Offshore rig count is 38, up 1 from last week; down 27 year over year.
Oil Services HOLDRs (NYSE: OIH) is down 0.5% at $113.76, the United States Oil (NYSE: USO) ETF is down 0.4% at $35.59 and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) is down 0.35% at $23.42 on this.
At 1:17 PM EST NYMEX WTI Crude is down $0.45 at $70.09 per barrel.
JON C. OGG
DECEMBER 11, 2009
Contact [email protected] for any questions or corrections.
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