Baker Hughes reported a 4-rig increase to the number of active oil and gas rigs in the United States on Friday. Oil and gas rigs rose to 1,048 according to the report, with the number of active oil rigs increasing by 2 and the number of gas rigs increasing by 2. The oil and gas rig count is now 105 up from this time last year. At 11:15 a.m. EDT on Friday, WTI Crude was down 0.28 percent at $70.05—about $1.00 per barrel from this time last week, while Brent Crude traded down 0.05 percent at $77.98, as a Reuter’s survey calculated that OPEC’s August oil production hit a 2018 high, even though Iran’s oil exports started to slip and Venezuela languishes in economic purgatory, unable to get more oil out of the ground and out of the country as migrants flee the socialist country in hoards. OPEC’s production, […]