US rig count declined in May

The total count decreased by 13 units in May, with a drop of 10 oil rigs and five gas rigs, while miscellaneous rigs rose by two units, according to Baker Hughes.

The number of rigs drilling for crude oil and natural gas remained unchanged at 600 units last week. Oil rigs fell by one to 496, while the natural gas rig count rose by one unit to 100. There were also four miscellaneous rigs in operation, the same as in the previous week.

The total US oil and gas rig count was down by 96 rigs, or 14%, from a year earlier.

By Debarati Bhattacharjee

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