The US drilling rig count dropped 20 units—with just slightly more than half targeting oil—to settle at 1,028 rigs working during the shortened week ended Apr. 2, according to data from Baker Hughes Inc. The rig count decline has noticeably slowed during the last 2 weeks, losing a combined 41 units compared with 56 units over a one-week period 3 weeks ago. The count still has fallen in 17 consecutive weeks, during which time it has plunged 892 units ( OGJ Online, Dec. 5, 2014 ). The total of 1,028 is the lowest count since Oct. 2, 2009, and 790 fewer units compared with this week a year ago. Despite the continued declines, Rystad Energy estimates US annual oil production —crude oil plus lease condensate—will peak at 9.7 million b/d in September assuming WTI stays at $55/bbl on average for […]