Energy Preview: US total rig count falls to lowest level since November 2021

The total number of active drilling rigs for oil and gas in the United States came crashing down in the week ended May 23, according to new data that Baker Hughes published on Friday, following a 6-rig decrease last week. The total rig count in the US fell by 10 to 566 rigs, according to Baker Hughes, down 34 from this same time last year and the lowest level since November 2021. The number of oil rigs fell by 8 to 465 after falling by 1 during the previous week?and down by 32 compared to this time last year. This is also a decrease from 473 the previous week. The number of gas rigs slipped by 2 this week, to 98 for a loss of 1 active gas rigs from this time last year. The miscellaneous rig count stayed the same at 3.

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