| Oil prices are back on the rise after more evidence emerged that Opec’s war on its supply rivals is taking affect. Brent crude for October delivery surged 2.5pc in London after the latest report on the number of drilling rigs in the US showed another sharp decline. Goldman Sachs now expects US oil production to fall by around 250,000 barrels per day (bpd) by the final quarter of the year.
Only 644 oil rigs are actively operating onshore in the US, down 57pc from the end of December as drillers cut back in response to oil prices sinking below $50 per barrel...............................................Full Article: Source
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