2023-05-12 13:07:29 ET
Total active drilling rigs in the U.S. plunged by 17 to 731, after falling by 7 in the previous week, Baker Hughes said Friday in its latest weekly survey .
Drilling rigs targeting crude oil in the U.S. declined by 2 to 586, while gas rigs in the U.S. tumbled by 16 to 141 and 4 rigs were classified as miscellaneous.
As falling for several weeks, the total rig count is now only 2% higher than at the same time last year.
Rigs targeting oil in the Permian Basin fell by 2 to 350.
ETFs: ( NYSEARCA: USO ), ( UCO ), ( SCO ), ( USL ), ( DBO ), ( DRIP ), ( GUSH ), ( USOI ), ( NRGU )
For further details see:
U.S. rig count sinks by 17 in latest Baker Hughes survey