While a desperate Saudi Arabia jawbones how well OPEC production cuts are going, the road ahead looks like a surge in US Shale supply is coming. Following a brief dip in the previous week, US oil rig counts soared 29 to 551 last week - the biggest weekly rise sicne April 2013 - to the highest since Nov 2015.
*U.S. OIL RIG COUNT UP 29 TO 551 , BAKER HUGHES SAYS :BHI US
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Which signals to OPEC that more production is coming...
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And WTI prcied are leaking lower...
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