Energy Preview: Crude Oil Stays Downbeat On Demand Concerns

25 Oct 2022 , 08:39 AM

Crude oil prices continue to stay on the back foot on Tuesday, despite fall in dollar overseas as lingering concerns over global economic growth and demand concerns weigh. Data showed Chinas crude imports sank 2% in September, amid continued headwinds from COVID-linked restrictions. WTI crude oil prices are currently quoting along the flat line at $84.67 per barrel. Meanwhile date from Baker Hughes showed that the number of total active drilling rigs in the United States rose by 2 last week. The total rig count rose to 771 last week?229 rigs higher than the rig count this time in 2021. Oil rigs in the United States rose by 2 last week, to 612. Gas rigs stayed the same at 157. Miscellaneous rigs also stayed the same at 2.Powered by Commodity Insights