Oil Rigs Fall for the 15th Straight Week and Twitter Nails it Again
How much more can the drilling industry take?
Why Cheap Oil Doesn't Stop the Drilling
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U.S. oil rigs fell for the 15th straight week. Estimates gathered from Twitter guessed it perfectly.
Drillers idled 41 oil rigs (excluding gas rigs), dropping the number to 825, Baker Hughes reported on Friday. The total oil rig count is down 49 percent since October, an unprecedented retreat that has eliminated thousands jobs in the drilling industry. The median forecast from a Bloomberg survey of 12 #RigCountGuesses on Twitter was for a decline of 41.