US rig count falls

The total number of rigs drilling for crude oil and natural gas in the US decreased by one to 548 units last week, according to Baker Hughes.

The number of oil rigs have gained by one over the week to 414, while gas rigs decreased by two to 127.

There were also seven miscellaneous rigs in operation – the same as a week earlier.

The total number of US oil and gas rigs was down by 41, or around 7% compared to a year earlier.

By Aparupa Mazumder

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