US rig count - 1016

Total rig count 1016 versus 1026 last week

The Baker Hughes rig count is coming in lower for the 5th week in a row

• Oil rigs, 824 versus 830 estimate. That is also down from 833 last week
• Gas rigs, 192 versus 193 last week
• Total rigs, 1016 versus 1026 last week

The price of crude oil was trading at $58.47 right before the report. It is currently trading at $58.59.

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Related stocks: Keppel Corp, Sembcorp Marine & Cosco.