US rig count falls

The total number of rigs drilling for crude oil and natural gas in the US declined by four to 559 units last week, according to Baker Hughes.

The total number of oil rigs fell by nine over the week to 442, while gas rigs gained by five to 114.

There were also three miscellaneous rigs in operation, unchanged from the previous week.

The total number of US oil and gas rigs was down by 35, or decreased by 6%, as compared to a year earlier.

By Aparupa Mazumder

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