Oil Prices Rise Amid Further Rig Count Decline
By Julianne Geiger,oilprice – Jul 12, 2019, 12:16 PM CDTJoin Our Community
The US oil and gas rig count fell by 5 this week, according to Baker Hughes, after losing rigs last week as well.
The total number of active oil rigs in the United States fell by 4 according to the report, reaching 784. The number of active gas rigs decreased by 2 to reach 172. Miscellaneous rigs gained 1.
The combined oil and gas rig count is now 958 for the week, with oil seeing a 79-rig decrease year on year and gas rigs down 17 since this time last year. The combined oil and gas rig count is down 96 year on year.