Friday, October 9, 2015

US RIGS COUNT

US rigs count dropped by 9, pushing the total to 605.

This could possibly lend some support to the oil price next week.

However, investors should also pay heed to the US stockpile report out in the mid week as the stockpile could continue to rise as many refineries go into maintenance mode in autumn. A substantial increase in the stockpile could hamper the upward march of oil price.

No comments:

Post a Comment