US oil rig count declines

The total number of rigs drilling for crude oil and natural gas in the US dropped by four to 580 units last week, according to Baker Hughes.

The number of oil as well as gas rigs fell by two to 478 and 98, respectively.

There were also four miscellaneous rigs in operation, the same as the previous week.

The total number of US oil and gas rigs was down by 40, or 6.5% from a year earlier.

By Aparupa Mazumder

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