According to Baker Hughes, U.S. oil rig counts declined to a 47 month low level as of the week ending May 1^st. May 1^st week ending oil rig counts declined 14.0% from the previous week while finishing 59.7% lower on a YOY basis and 63.4% below the three and a half year high levels experienced during November of 2018. The decline in oil rig counts was the largest experienced throughout the past 14 years on a percentage basis. May 1^st Oil Rig Counts Declined to a 47 Month Low Level May 1^st Oil Rig Counts Declined 14.0% Week-Over-Week, Finishing 59.7% Lower YOY The Weekly Percentage Decline in Oil Rig Counts was the Largest in the Past 14 Years