While down year-on-year, oil services company Baker Hughes said Friday there were a net five more rigs deployed across the United States in July than in June. Baker Hughes reported net rig counts for July . Rig counts serve as a barometer for the health of the exploration and production side of the energy sector, which has been depressed because of the low price of crude oil. Crude oil prices are down more than 50 percent from last year because of oversupplies in a weak global economy. Much of the increase in supply comes from U.S. shale oil basins. Companies operating in U.S. shale have said they’re able to produce more with fewer rigs because of the improved efficiencies. Others have started adding […]