US gas rig count drops again

The number of total rigs drilling for crude oil and natural gas fell by three to 586 units last week, according to Baker Hughes.

The number of oil rigs remained unchanged at 482. Meanwhile, the natural gas rig count fell by three to 98. There were also six miscellaneous rigs in operation, unchanged from the previous week.

The total US oil and gas rig count was down by 73, or 11% from a year earlier.

By Debarati Bhattacharjee

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