US drillers cut oil and gas rigs for ninth week in a row -Baker Hughes

U.S. energy firms this week cut the number of oil and natural gas rigs operating for a ninth week in a row for the first time since July 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 eight to 674 in the week to June 30, the lowest since April 2022.

US drillers cut oil and gas rigs for ninth week in a row -Baker Hughes