US rig count falls

The total number of rigs drilling for crude oil and natural gas in the US decreased by 10 to 544 units last week, according to Baker Hughes.

The number of oil rigs decreased by 12 over the week to 407, while gas rigs gained by three to 130.

There were also seven miscellaneous rigs in operation – one less than a week earlier.

The total number of US oil and gas rigs was down by 38, or around 7% compared to a year earlier.

By Tuhin Roy

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