According to Baker Hughes, U.S. oil rig counts declined to a ten and a half year low level as of the week ending May 29^th. May 29^th week ending oil rig counts declined 6.3% from the previous week while finishing 72.3% lower on a YOY basis and 75.0% below the three and a half year high levels experienced during November of 2018. The percentage decline in oil rig counts was the smallest experienced throughout the past nine weeks on a percentage basis, however. May 29^th Oil Rig Counts Declined to a Ten and a Half Year Low Level May 29^th Oil Rig Counts Declined 6.3% Week-Over-Week, Finishing 72.3% Lower YOY The May 29^th Percentage Decline in Oil Rig Counts was the Smallest in Nine Weeks, However