Baker Hughes US oil rig count 501 vs 497 prior

• Oil rigs 501 vs 497 last week
• Gas rigs 117 vs 118 last week
• Total rigs 622 vs 619 last week

WTI is getting a big geopolitical premium this weekend, up $3.93 to $86.84 and with brent touching $90.00. The rig count has been grinding lower but the latest bump in prices might help to reverse that it it can be sustained. In its takeover of Pioneer this week, Exxon said the combined companies would boost production by 150k bpd more than they had individually planned.