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US active oil and gas rig count drops as crude prices rise
Baker Hughes data showed the total rig count fell to 588, while US oil production averaged 13.830 million barrels per day in the week ending August 14.
US oil and gas drilling activity in the United States declined for the latest reporting period, according to Baker Hughes data cited by OilPrice.
Oil rigs fell by 3 to 452, while gas rigs edged down by 1 to 127, bringing the overall US rig count to 588. OilPrice also noted miscellaneous rigs fell by 1 to 9.
OilPrice reported that the latest EIA figures showed weekly US crude oil production rose during the week ending August 14, with average output at 13.830 million barrels per day, up from 13.805 million bpd the prior week.
At the basin level, OilPrice said the Permian Basin rig count increased by 2 to 267, while the Eagle Ford rose by 1 to 50. Oil prices were also higher on the day referenced in the report, with Brent trading around $94.2 per barrel.
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