US oil rig count drops

The total number of rigs drilling for crude oil and natural gas in the US dropped by five to 584 units last week, according to Baker Hughes.

The number of oil rigs fell by two to 480, and gas rigs fell by three to 100.

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 35, or 6% from a year earlier.

By Aparupa Mazumder

Please get in touch with comments or additional info to news@engine.online