US Rig Count Soars Most In 10 Months As Production Hits Record High

Writer at ZeroHedge • Jan 26, 2018 at 1:41 PM EST

US rig counts rose by 12 in the last week - the biggest rise since March 2017 - as the lagged crude price is sparking more drilling and in turn sending production surging to a new record high.

US rig counts rose by 12 in the last week - the biggest rise since March 2017 - as the lagged crude price is sparking more drilling and in turn sending production surging to a new record high... just shy of Saudi Arabia!

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US crude production surged back from its weather-impacted plunge to a new record high last week...

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And is set to overtake Saudi Arabia very soon...

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