US oil rigs drew a breath this week. Bakers Hughes U.S. oil rig count fell 5 to 763. Canada lost 6 rigs.The lower rigs were mainly due to mainenance takedowns.
US oil rigs keep motoring along, Bakers Hughes oil rig count rose 3 to 768 much to the chagrin of OPEC. With oil stable around $50 shale projects keep producing as U.S. exports continue to rise.
General Electric (GE) often seen as bellwether for the U.S. economy and just like the economy the stock is floundering near 2015 levels and is the second worst performer in the Dow this year. $GE reports Q217 earnings before the open Friday.