U.S. oil and gas rig count falls by one to 582, marking a continued decline for the fourth week (Baker Hughes).
The U.S. oil and gas rig count fell by one to 582, marking a continued decline for the fourth week, according to Baker Hughes. Oil rigs held steady at 483, while natural gas rigs decreased to 94. Overall, the rig count has dropped by about 20% in 2023. Falling oil prices and rising costs have pressured companies to cut spending. The Permian Basin saw a slight increase, bringing its total to 306 rigs.
September 06, 2024
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