US Oil Rig Count Inches Higher As Production Hits 13 Million Bpd | OilPrice.com:
After a brutal week for oil prices courtesy of an outbreak of a deadly virus in China, Baker Hughes reported that the number of oil and gas rigs in the US decreased this week, to 794—a decrease of 2 rigs. Oil rigs, however, increased for the week.
The total oil and gas rig count is now 265 down from this time last year.
For oil rigs, this week saw an increase of 3 rigs, according to Baker Hughes data, bringing the total to 676—a 186-rig loss year over year.
The total number of active gas rigs in the United States fell by 5 according to the report, to 115. This compares to 197 a year ago.
Meanwhile, production has finally surpassed the psychologically important threshold of 13 million bpd, according to data provided by the Energy Information Administration, where it has sat for two weeks.
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