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US drillers cut oil and gas rigs for second week in a row – Baker Hughes
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row for the first time since mid November, energy services firm Baker Hughes said in its closely followed report on Thursday. The oil and gas rig count, an early indicator of future output, fell by three to 620 in the week to Dec. 21, the lowest since mid November. Baker Hughes said that put the total rig count down 159 rigs, or 20%, below this time last year. Baker Hughes said U.S. oil rigs fell by three to 498 this week, their lowest since mid November, while gas rigs rose by one to 120, their highest since mid ... (full story)