The US oil and gas rig count continued to fall this week, according to Baker Hughes, falling by 1 rig for the week. For oil rigs, this week marks the thirteenth decrease out of the last fifteen weeks, falling 102 rigs in that timeframe. The total oil and gas rig count now stands at 802, or 274 down from this time last year. The total number of active oil rigs in the United States decreased by 3 according to the report, reaching 668. The number of active gas rigs increased by 2, settling at 131 for the second week. By state, Texas has seen a drop of 126 year on year, while Oklahoma sunk by 94 to hit 51 rigs. Even though the number of oil rigs has declined by 209 this year alone, production has grown from 11.7 million bpd at the beginning of the year to an […]