The rig count in the US peaked in the six months


The number of drilling rigs in the US during the week from 12 to 19 August, increased by 10 units and reached 406, writes the Financial Times, citing data from Baker Hughes Inc. As the newspaper notes, this is the highest rate since February 19 of this year.

While the current number of drilling much less reached in September 2014, a peak in 1592 drilling rigs. However, the rig count in the US shows an increase for the eighth consecutive week amid recent gains in oil prices, writes the FT.

Earlier, at the auction of 18 August Brent futures and WTI crossed $50,16 and 47,41, respectively, showing an increase of more than 20% of local minima, recorded on 2 August.

Price growth occurred against the background of reduction of stocks of oil in the United States, as well as expectations of measures to stabilize the market, which can take on an informal OPEC meeting in late September.

The oil reserves in the U.S. fell last week by 2.5 million to 521,1 million barrels, the report of the energy information administration of U.S. Department of energy (EIA). Surveyed by Bloomberg analysts predicted that the index, by contrast, will increase by 950 thousand barrels.

Source