Commodities Buzz: US oil rig count down by 1, says Baker Hughes

The total number of active drilling rigs for oil and gas in the United States fell yet again in the week ended June 20, according to new data that Baker Hughes published on Friday, following a 4-rig decrease in each of the two weeks prior. The total rig count in the US fell by 1 to 554 rigs, according to Baker Hughes, down 34 from this same time last year. The number of oil rigs fell by 1 to 438 after falling by 3 during the previous week?and down by 47 compared to this time last year. The number of gas rigs fell by 2 last week, to 111 for a gain of 13 active gas rigs from this time last year. The miscellaneous rig count rose by 2 to 5.

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