Commodities Buzz: US oil rig count down by 1 to 410, Says Baker Hughes

U.S. energy firms last week cut the number of oil and natural gas rigs operating for a second straight week for the first time since March, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by two to 543 in the week to April 17, the lowest since late March. Baker Hughes said the week's decline puts the total rig count down 42 rigs, or 7% below this time last year. Baker Hughes said oil rigs fell by one to 410 in the week ended April 17, their lowest since late March, while gas rigs fell by two to 125, their lowest since January, and other miscellaneous rigs rose by one to eight.

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