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  • US drillers cut oil and gas rigs for first time in three weeks – Baker Hughes

    From boereport.com

    U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by three to 586 in the week to Aug. 2. Baker Hughes said that puts the total rig count down 73, or 11%, below this time last year. Baker Hughes said oil rigs were steady at 482 this week, while gas rigs fell by three to 98. The oil and gas rig count dropped about 20% in 2023 after rising by 33% in 2022 and 67% in 2021, due to a decline in oil and gas ... (full story)

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