US gas rig count drops again

The number of rigs drilling for crude oil and natural gas fell by one to 584 units last week, according to Baker Hughes.

The number of oil rigs fell by one to 478, to their lowest level since December 2021. The natural gas rig count also fell by one to 100. There were also six miscellaneous rigs in operation, one more than the previous week.

The total US oil and gas rig count was down by 91 rigs, or 13% from a year earlier.

By Debarati Bhattacharjee

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