US rig count declines

The total number of rigs drilling for crude oil and natural gas in the US decreased by six to 542 units last week, according to Baker Hughes.

The number of oil rigs have fallen by eight over the week to 406, while gas rigs have remained unchanged at 127.

There were also nine miscellaneous rigs in operation – two more than the week earlier.

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

By Aparupa Mazumder

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