2023-05-05 13:10:49 ET
Total active drilling rigs in the U.S. fell by 7 to 748, according to Baker Hughes' latest weekly survey issued Friday.
Drilling rigs targeting crude oil in the U.S. declined by 3 to 588, while gas rigs in the U.S. dropped by 4 to 157 and 3 rigs remained classified as miscellaneous.
The total rig count is 6% higher than at the same time last year, a percentage that has been declining steadily for several weeks.
Rigs targeting oil in the Permian Basin fell by 5 to 352.
ETFs: ( NYSEARCA: USO ), ( UCO ), ( SCO ), ( USL ), ( DBO ), ( DRIP ), ( GUSH ), ( USOI ), ( NRGU )
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U.S. drilling rigs shed 7 in latest Baker Hughes survey