According to Baker Hughes, U.S. oil rig counts declined to an 11 year low level as of the week ending Jun 5^th. Jun 5^th week ending oil rig counts declined 7.2% from the previous week while finishing 73.9% lower on a YOY basis and 76.8% below the three and a half year high levels experienced during November of 2018. Jun 5^th Oil Rig Counts Declined to an 11 Year Low Level Jun 5^th Oil Rig Counts Declined 7.2% Week-Over-Week, Finishing 73.9% Lower YOY Declines in Oil Rig Counts Have Decelerated Over Recent Weeks