It’s business as—almost–usual in the United States, even after a fifth week of faltering oil prices as the coronavirus outbreak eats away at oil demand and strikes fear in the oil market, leading one to wonder when the low oil prices will catch up with US drillers. Baker Hughes reported that the number of oil and gas rigs in the US held fast this week at 790, but the total oil and gas rig has fallen 259 over the last 52 weeks. The number of oil rigs increased for the week, by 1 rig, according to Baker Hughes data, bringing the total to 676—a 178-rig loss year over year. The total number of active gas rigs in the United States fell by 1 according to the report, to 111. This compares to 195 a year ago. Meanwhile, oil production slipped back to 12.9 million bpd after hovering at 13 […]