U.S. Oil & Gas Rig Count Falls by the Most in a Week Since June 2020 – Baker Hughes

U.S. energy firms this week cut the number of oil and natural gas rigs by the most since June 2020, energy services firm Baker Hughes Co said in its closely followed report on Friday.

The oil and gas rig count, an early indicator of future output, fell by 12 to 759 in the week to Feb. 3, the lowest since September.

Despite this week’s rig decline, Baker Hughes said the total count was still up 146 rigs, or 24%, over this time last year.

U.S. oil rigs fell 10 to 599 this week, their lowest since September, while gas rigs dropped by two

U.S. Oil & Gas Rig Count Falls by the Most in a Week Since June 2020 – Baker Hughes