USO - U.S. drilling rigs fall for seventh straight week now 7% below year ago

2023-06-16 14:00:05 ET

Total active drilling rigs in the U.S. fell by 8 to 687, down for the seventh week in a row and the lowest count since April last year, Baker Hughes reported in its latest weekly survey .

The total rig count came in 7% below the 740 rigs reported at the same time last year.

Drilling rigs targeting crude oil in the U.S. fell by 4 to 552, while gas rigs dropped by 5 to 130 and 5 rigs were classified as miscellaneous.

Rigs targeting oil in the Permian Basin fell by 4 to 337 while oil rigs in the Eagle Ford play increased 3 to 59.

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