US rig count records biggest weekly fall since 2015 with worse to come as oil plunges

摘要

The US rig count on Friday recorded its largest weekly fall since April 2015 as US shale firms cut 44 rigs, with more extreme cuts expected in a few weeks as the price of crude continues to decline – falling to fresh multi-decade lows on Monday. The price plunge was largely pinned on demand destruction caused by the coronavirus pandemic, increasing the likelihood that US producers will shut in production as oil storage fills to the brim.