U.S. energy firms in July cut the number of oil rigs for an eighth straight month while adding natural gas rigs for the first time in three months, energy services firm Baker Hughes said in its closely followed report on Friday.
A drilling rig is seen in the Austin Chalk about two hours outside of Houston, Texas, U.S., May 10, 2018. REUTERS/Ernest Scheyder
July 28 - U.S. energy firms in July cut the number of oil rigs for an eighth straight month while adding natural gas rigs for the first time in three months, energy services firm Baker HughesThis week, drillers cut the number of oil and gas rigs operating for a third week in a row. The oil and gas rig count, an early indicator of future output, fell by five to 664 in the week to July 28, the lowest since March 2022. , ,U.S. oil rigs fell by one to 529 this week, their lowest since March 2022, while gas rigs decreased by three to 128.Oil rigs dropped by 16 rigs in July. That put the oil count down for an eighth month in a row for the first time since drillers cut oil rigs for a record 12 consecutive months through November 2019.U.S.
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