US rigs count fell by 10 in the week ending 16 October, 2015 to 595. This is the seventh consecutive week that the rigs count have fallen. The news immediately drove the oil price to US$47.26 a barrel.
Elsewhere, shale oil continue to face pressure as reported by Bloomberg:
http://www.oregonlive.com/opinion/index.ssf/2015/10/time_is_running_out_for_americ.html
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