Oil Rig Count Inches Higher As Prices Drop ...Middle East

OILPRICE - Economy
Oil Rig Count Inches Higher As Prices Drop
source : OILPRICE ( Middle East ) () 8
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose by 5 this week. The total number of active oil and gas rigs in the U.S. is now at 402—or 388 fewer than this time last year. The oil rig count increased by 4 this week, and the number of gas rigs increased by 1. The number of miscellaneous rigs remained unchanged. The EIA’s estimate for oil production in the United States for the week ending February 19 fell sharply by 1.1 million bpd to 9.7 million barrels. It is the lowest production level…

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