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 22^nd. May 22^nd week ending oil rig counts declined 8.1% from the previous week while finishing 70.3% lower on a YOY basis and 73.3% below the three and a half year high levels experienced during November of 2018. May 22^nd Oil Rig Counts Declined to a Ten and a Half Year Low Level May 22^nd Oil Rig Counts Declined 8.1% Week-Over-Week, Finishing 70.3% Lower YOY Recent Percentage Declines in Oil Rig Counts Were the Largest in the Past 14 Years