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[RT] bad news for oil price increases?



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from bondtalk.com


COMMODITY TALK:  The Baker Hughes U.S. rig count increased by 15 rigs 
last week to 1,213 to the highest level in 15 years, suggesting that 
drilling activity continues to rise sharply. Just two years ago, when 
the price of crude oil was mired in a slump, the rig count was just 
488--a 60-year low. The sharp increase points to increased energy 
production in the next several years. Here is a link to data from 
Baker Hughes on rig counts going back to 1975.  

http://www.bakerhughes.com/investor/rig/index.htm





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