US oil rig count drops again

The number of total rigs drilling for crude oil and natural gas fell by one to 582 units last week, according to Baker Hughes.

The number of oil rigs fell by two to 477, while gas rigs rose by one to 100.

There were also five miscellaneous rigs in operation, the same as the previous week.

The total number of US oil and gas rigs was down by 43, or 7% from a year earlier.

By Debarati Bhattacharjee

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