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ENERGY: US Oil and Gas Rigs Down 2 on Week to 583: Baker Hughes

ENERGY

US total oil and gas rig count was down 2 on the week to 583 rigs, according to Baker Hughes. This is the fourth consecutive week of declines and the lowest since June 28.

  • This puts total US oil and gas rigs down by 48 rigs, or 7.6%, on the year.
  • See breakdown by type and week on week change:
  • Oil: 483 (=) -down 29 rigs, or 5.7% on the year.
  • Gas: 95 (-2) – down 19 rigs, or 16.7% on the year
  • Miscellaneous: 5 (=) – stable on year
  • Canada: 220 (+1) – up 33 rigs on the year

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