U.S. Rig Count Falls For 18th Week In A Row

Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week, by 5, to 258, marking the eighteenth loss in the number of active rigs, with losses in the Permian, Eagle Ford, Marcellus, and Barnett basins. The total oil and gas rigs is now sitting at 700 fewer than this time last year. The number of oil rigs decreased for the week by 4 rigs, according to Baker Hughes data, bringing the total to 181—compared to 784 active rigs this time last year. The total number of active gas rigs in the United States…