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Total rig count falls below 900 for first time since 2017

From chron.com

The total tally of U.S. rigs drilling for oil and gas fell below 900 this week for the first time since 2017 as oilfield activity continues to slow. Oklahoma and Texas led yet another dip in the nationwide rig count as drilling activity has steadily declined since the beginning of this year. The rig count fell by six down this week down to 898 rigs, including 738 of them that are drilling for crude oil. The rest are primarily seeking natural gas, according to the weekly count collected by Baker Hughes, a GE company. Oklahoma, which has seen its rig count plummet by 45 percent in just 12 months, lost five rigs for the ... (full story)

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  • Category: Fundamental Analysis