15 Dec, 23

U.S. Drillers Cut Drilling Activity Amid Stabilizing Oil Prices

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The total number of active drilling rigs in the United States fell by 2 this week after climbing by 10 over the course of the last four weeks, according to new data that Baker Hughes published Friday. The total rig count fell to 624 this week. Since this time last year, Baker Hughes has estimated a loss of 160 active drilling rigs. This week’s count is 451 fewer rigs than the rig count at the beginning of 2019, before the pandemic. The number of oil rigs fell by 2 to 501. Oil rigs are now down by 119 compared to this time last year. The number…

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