US Oil Drilling Rigs Decline Despite Year-Over-Year Growth

Source Summary

The number of active US oil and gas drilling rigs fell this week to 588, down from the previous week, according to Baker Hughes data published Friday. Active oil rigs declined by 3 to 452, while gas rigs fell by 1 to 127. Despite the weekly decline, oil rig counts remain 41 above the same period last year, and total rig counts are up 50 year-over-year.