Foreign news on August 25, energy services company Baker Hughes Co. said in its closely watched report on Friday that U.S. energy companies cut the number of active oil rigs for the ninth straight month, while oil And the total number of natural gas rigs fell for the fourth straight month.
The U.S. oil and gas rig count, a leading indicator of future output, fell 10 to 632 in the week ended Aug. 25, the lowest since February 2022, Baker Hughes data showed.
That brings the total number of U.S. oil and gas rigs down by 133, or 17%, from a year earlier, Baker Hughes said.
The U.S. oil rig count fell by 8 to 512 this week, the lowest since February 2022, while the natural gas rig count fell by 2 to 115, the lowest since January 2022.
The total number of oil and gas rigs fell by 32 in August, the fourth straight month of decline.
The oil rig count fell by 17 in August, the longest monthly decline since November 2019, when the oil rig count fell for 12 straight months.
The number of natural gas rigs decreased by 13 in August, after increasing by 4 in July.
