Does GE-Baker Hughes Merger Come at the Wrong Time?

It has been a while since I focused my Real Money column on the weekly Baker Hughes rig count. Today's report showed a headline figure of 763 rigs employed in the U.S. for oil drilling, an increase of seven rigs from the prior week's figure. 

On its own, that's not a bullish data point for West Texas Intermediate crude futures pricing, but the quick decline in oil prices yesterday afternoon and this morning seemed to foretell a higher rig count. In fact, West Texas Intermediate prices have risen since the Baker Hughes figures were released, and are, as of this writing, holding the $44 per barrel level. ...552 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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