US rig count declines

The total number of rigs drilling for crude oil and natural gas in the US dropped by four to 546 units last week, according to Baker Hughes.

The number of oil rigs decreased by six over the week to 414, while gas rigs gained by four to 125.

There were also seven miscellaneous rigs in operation – two less than a week earlier.

The total number of US oil and gas rigs was down by 39 (7%) compared to a year earlier.

By Aparupa Mazumder

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