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U.S. oil rig count drops as gas rigs rise, Baker Hughes data shows
Baker Hughes said the total U.S. rig count held at 588 this week, while active oil rigs fell 5 to 447 and gas rigs rose 5 to 132.
U.S. rig activity for oil and gas shifted during the latest reporting period, with Baker Hughes data showing oil rigs declining while gas rigs increased. The total number of active drilling rigs in the United States stayed unchanged at 588 this week.
Baker Hughes reported that active oil rigs fell by 5 to 447. Gas rigs rose by 5 to 132, and miscellaneous rigs were flat at 9.
In related energy output data, the latest EIA figures showed weekly U.S. crude oil production rose for the week ending August 21, averaging 13.843 million barrels per day.
On the market side, OilPrice said oil prices were lower on Friday, with Brent trading at about $89.36 per barrel, down roughly $5 from the prior level cited in the article.
Latest closeWTI crude $81.58 ▼0.9%|Brent $86.32 ▼2.5%