{"id":25382,"date":"2017-09-08T12:12:06","date_gmt":"2017-09-08T17:12:06","guid":{"rendered":"http:\/\/olduvai.ca\/?p=25382"},"modified":"2017-09-08T12:12:06","modified_gmt":"2017-09-08T17:12:06","slug":"rig-count-slumps-to-3-month-lows-as-us-crude-production-collapses","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=25382","title":{"rendered":"Rig Count Slumps To 3-Month Lows As US Crude Production Collapses"},"content":{"rendered":"<h3 class=\"title\"><a href=\"http:\/\/www.zerohedge.com\/news\/2017-09-08\/rig-count-slumps-3-month-lows-us-crude-production-collapses\">Rig Count Slumps To 3-Month Lows As US Crude Production Collapses<\/a><\/h3>\n<section class=\"messages-holder\"><\/section>\n<section class=\"node node-type-story node-full node-nid-603141 ads-injected\">\n<div class=\"sub-title-box\"><\/div>\n<div class=\"content\">\n<p>US <strong>crude production collapsed this week with most of Texas offline<\/strong> and we would expect rig counts to have continued to stabilize (if not fall) following the lagged track of WTI, and they did &#8211;<strong> oil rigs dropped 3 to 756, the lowest since June.<\/strong><\/p>\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2017\/09\/06\/20170908_rig2.jpg\"><img decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2017\/09\/06\/20170908_rig2_0.jpg\" alt=\"\" \/><\/a><\/p>\n<p>As a reminder, Crude production in the Lower 48 collapsed&#8230;<\/p>\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2017\/09\/06\/20170907_doe.jpg\"><img decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2017\/09\/06\/20170907_doe_0.jpg\" \/><\/a><\/p>\n<p>This is the biggest week-on-week fall since August 2012, when Hurricane Isaac shut in more than 1.3 million barrels a day of Gulf of Mexico production.<\/p>\n<div class=\"injected-ad-wrapper\">\n<div class=\"injected-ad-container\">\n<div id=\"google_ads_iframe_\/5206\/invc.zerohedge\/economics_news_1__container__\">WTI prices tumbled today after China refinery cut headlines&#8230;<\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2017\/09\/06\/20170908_rig1.jpg\"><img decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2017\/09\/06\/20170908_rig1_0.jpg\" alt=\"\" \/><\/a><\/p>\n<p><em><strong>Uncertainty has the \u201cmarket pulling in their horns ahead of the storm. They are worried about demand destruction,\u201d\u00a0<\/strong><\/em>Phil Flynn, senior market analyst at Price Futures Group, says. <strong>The market also \u201cseems to be a little technically heavy\u201d<\/strong><\/p>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Rig Count Slumps To 3-Month Lows As US Crude Production Collapses US crude production collapsed this week with most of Texas offline and we would expect rig counts to have continued to stabilize (if not fall) following the lagged track of WTI, and they did &#8211; oil rigs dropped 3 to 756, the lowest since [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[15724,595,2063,1474,3450,4318],"class_list":["post-25382","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-hurricane-harvey","tag-oil-production","tag-texas","tag-us-oil-production","tag-us-oil-rig-count","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25382"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25382\/revisions"}],"predecessor-version":[{"id":25383,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25382\/revisions\/25383"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}