Baker Hughes reported that the number of oil and gas rigs in the US plummeted this week by 20, falling to 722, with the total oil and gas rigs clocking in at 244 fewer than this time last year. The number of oil rigs increased for the week, by 19 rigs, according to Baker Hughes data, bringing the total to 664—a 160-rig loss year over year. The total number of active gas rigs in the United States fell by 1 according to the report, to 106. This compares to 192 a year ago. The miscellaneous rig count stayed the same this week, for a total of 2 miscellaneous rigs. Oil production in the United States rose to 13.1 million bpd , resuming its all-time high, according to data provided by the Energy Information Administration. The number of rigs in the most prolific basin, the Permian, fell by 13 this […]