Following 2 weeks of notable rig count declines (to its lowest in 2 months), Baker Hughes reports another decline (the first 3 week decline in 3 months). Total rig count fell to 842 from 848 but oil rigs declined 8 to 644. Crude prices were weak heading into the data (post Fed) and popped after…

This is the biuggest 3-week declinein 4 months..

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Charts: Bloomberg