US Crude Production Hits 21-Month Highs As Rig Count Rises For 19th Straight Week

For the 19th week in a row, the number of US oil rigs rose (up 2 to 722). This is the largest number of oil rigs since April 2015 as Lower 48 crude production (much to the chagrin of OPEC) surges to its highest since August 2015.