MARKETS

US rig count falls for ninth week

BAKER HUGHES' latest rig count, released on Saturday Australian time, shows the true tragedy emerging in the US oil shale market, with rigs falling to a new all time low for the second consecutive week.

Staff Reporter

It is now the ninth week that US active rig numbers have fallen, with just 339 rigs in operation, the lowest level since the 1940s. Compared to this time last year, active contracted rigs in the...

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