2023-03-10 14:05:52 ET
Total active drilling rigs in the U.S. fell by 3 to 746, Baker Hughes said in its latest weekly report , declining for the fourth consecutive week for the first time since July 2020.
Drilling rigs targeting crude oil in the U.S. fell by 2 to 590 and gas rigs dropped 1 to 153, while 3 rigs remain classified as miscellaneous.
The total rig count is 12.5% higher than at the same time last year, although the percentage has been falling steadily for several weeks.
Rigs targeting oil in the Permian Basin fell by 6 to 339.
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U.S. drilling rigs fall for fourth straight week in Baker Hughes survey