Baker Hughes reported that the number of oil and gas rigs in the US fell this week by 1 to 790, with the total oil and gas rigs clocking in at 248 fewer than this time last year. And while it’s just a one-rig loss for the week, the downward movement—usually a boost for prices—may unsettle the shaky market further as coronavirus fears mount. The number of oil rigs decreased for the week, by 1 rig, according to Baker Hughes data, bringing the total to 678—a 165-rig loss year over year. The total number of active gas rigs in the United States stayed the same according to the report, at 110. This compares to 195 a year ago. The miscellaneous rig count stayed the same this week as well, for a total of 2 miscellaneous rigs. Meanwhile, oil production held steady at 13 million bpd for the third week […]