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Oil & Gas Rig Count Continues to Drops

Gasoil News - Published on Mon, 18 May 2020

Image Source: Rig Count
Baker Hughes reported that the number of oil and gas rigs in the US fell again this week by 35, falling to 339, with the total oil and gas rigs sitting at 648 fewer than this time last year, a more than 65% drop off in a single year. It is the fewest number of active rigs since Baker Hughes started to keep track in 1940.

According to Baker Hughes data, the number of oil rigs decreased for the week by 34 rigs, bringing the total to 258, a 544-rig loss year over year. It is the fewest number of active oil rigs in play since mid-2009.

The total number of active gas rigs in the United States fell by 1 to 79. This compares to 185 a year ago.

Source :

Posted By : Yogender Pancholi on Mon, 18 May 2020
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