Oil prices drop but Eagle Ford rig count is steady

Oil prices hit their lowest prices since November, but the Eagle Ford rig count will remain the same for now.

Figures released May 5 in the Baker Hughes Rig Count show that the oil rich region just south of San Antonio stayed at 83 rigs deployed in the field.

Amid doubts about OPEC’s production gluts and a persistent global supply glut, West Texas Intermediate crude oil prices fell below the important psychological barrier of $50 per barrel a week earlier and have yet to recover. WTI was trading…

Oil prices drop but Eagle Ford rig count is steady syndicated post

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