For the oil markets, this week has been nothing short of a Tea Cup ride at some rinky-dink traveling fair, operated by some suspect toothless man wearing overalls with a pocketful of Wild Turkey. And what better way to round out the oil industry’s week by yet another industry report that has the power to send markets spinning for one more round. And so it has. Baker Hughes today reported a 12-site increase in the oil and gas rig count, bringing the total number of active rigs to 569. Oil accounted for most of the gains, with a 9-site increase, with the number of gas rigs increasing by 3. Texas was the biggest winner this week, with a 6-site increase. For Texas, this brings the total oil and gas rig count to 262, which is 78 under this same time last year. The next largest gainer by […]