The US oil and gas rig count fell by 8 this week, according to Baker Hughes, adding to months of losses, as US oil production falls to lowest levels since October 2018. The total number of active oil rigs in the United States fell by 3 according to the report, reaching 776. The number of active gas rigs decreased by 5 to reach 169. The combined oil and gas rig count is now 946 for the week, with oil seeing a 85-rig decrease year on year and gas rigs down 17 since this time last year. The combined oil and gas rig count is down 102 year on year. Year-to-date, the oil rig count has fallen from 858 active rigs since the beginning of the year to 776, while gas rigs have fallen from 187 to 169 during that same time. Oil prices were trading slightly down on Friday […]