The the number of active oil and gas rigs fell in the United States again this week according to Baker Hughes, despite record-breaking production for the week ending February 22—the second week in a row. The total number of active oil and gas drilling rigs fell by 9 rigs, according to the report, with the number of active oil rigs falling by 10 to reach 843 and the number of gas rigs gaining 1 to reach 195. The oil and gas rig count is now just 57 up from this time last year, 43 of which is in oil rigs. Oil prices were trading up early on Friday as a China-United States trade deal was rumored imminent, with a 150-page document in the works containing the nitty gritty of a deal. Oil prices later crashed, however, with both WTI and Brent falling by more than 2% in the afternoon […]