US rig count declines

The total number of rigs drilling for crude oil and natural gas in the US has declined by two to reach 536 units last week, according to Baker Hughes.

The total number of oil rigs gained by one over the week to 412, while gas rigs fell by three to reach 119.

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

The total number of US oil and gas rigs was down by 47, or about 8% lower, as compared to a year earlier.

By Aparupa Mazumder

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