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Rig Count Unexpectedly Declines Following Biggest Crude Production Surge In 20 Months

Following the biggest jump in US crude production since May 2015, the US oil rig count trend continues to point to further rises in production.


However, the US oil rig count tumbled most since June (-7 to 522) in the latest week.

This is the fiurst drop in rig counts in 14 weeks.