According to Baker Hughes, U.S. oil rig counts remained near recently experienced three year high levels during the week ending Mar 30^th. Mar 30^th U.S. oil rig counts declined 0.9% from the three year high experienced during the previous week but remained higher on a YOY basis for the 65^th consecutive week, finishing up 20.4%. Mar 30^th week ending crude oil production increased to a new record high level while oil production per rig finished at a two month high. Crude oil production is expected to continue to strengthen throughout coming months according to drilling productivity estimates compiled throughout areas accounting for 95% of recent production gains. Oil Rig Counts Followed Crude Oil Prices Lower but Have Begun to Rebound Since Mid-2016 Oil Rig Counts Peaked in Late 2014, Prior to Declining Sharply in Early 2015 Mar 30^th Oil Rigs Finished Down 0.9% Week-Over-Week but up 20.4% YOY The Declines in Oil Rig Counts Since the Nov ’14 Peak Remain Significant Declines in Vertical Rigs Remain the Most Significant on a Percentage Basis Mar 30^th Weekly Crude Oil Production Increased to a New Record High Level Mar 30^th Crude Oil Production per Rig Increased to a Two Month High