Stig Östlund

onsdag, maj 11, 2011

Oil Exploration Hotspots

Following WTI's dramatic plunge late last week, the price of oil has dropped to under $100 a barrel for the first time in nearly 2 months. However, despite crude still at a $15 premium from where it stood a year ago, exploration remains active as companies look to capitalize on bullish prices. The number of rigs drilling for oil in the United States now stands at 934, a record high in the 24 years that rig counts have been recorded by Baker Hughes Inc. /RIN

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