Current BHI Stock Info

Rig counts spike in Saudi Arabia, continue to fall in the U.S.
The most recent report from Baker Hughes (ticker: BHI) shows the fifteenth straight week of declining rig counts in the United States, but rig counts in Saudi Arabia spiked in 2014. Industry sources say that this is due to OPEC’s largest producer looking to maintain its spare capacity in the future, reports Reuters.

“The Saudis are probably worried about everyone else reducing capex as a result of low oil prices and about non-OPEC output falling off a cliff at some point,” said...

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