Is the Rig Count Decline Finally Slowing Down?

Total US rig count

According to oilfield service company Baker Hughes (BHI), there were 859 active oil and gas rigs in the United States in the week ending June 12, 2015, nine less than the previous week ending June 5.
With last week’s fall, the average four-week US rig count drop was seven, the same as the previous four weeks to June 5. The rig count drop averaged eight in the four weeks to May 29, and 12 in the four weeks to May 22. So, the rate of decline is clearly slowing down.  (more)
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