2020 is starting off with two weeks of rig losses, according to Baker Hughes, with the US oil and gas rig count falling by 15 rigs for the week. The total oil and gas rig count is now 294 down from this time last year at a total of 781 rigs. For oil rigs, this week saw a decrease of 11 rigs, according to Baker Hughes data. The total number of active gas rigs in the United States fell by 4 according to the report, to 119. This compares to 202 a year ago. The US shed a total of 207 oil rigs throughout 2019, and continued the downward trend for the first two weeks of the year, while production grew from 11.7 million bpd at the beginning of 2019 to the all-time high of 12.9 million bpd for first week of 2020, the last week for which there […]