US rig count declines

The total number of rigs drilling for crude oil and natural gas in the US fell by three to 584 units last week, according to Baker Hughes.

The total number of oil rigs fell by four to 479, while gas rigs increased by two to 101 on the week.

There were also four miscellaneous rigs in operation, one lower than the previous week.

The total number of US oil and gas rigs was down by 21, or decreased by 3.5%, as compared to a year earlier.

By Aparupa Mazumder

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