Baker Hughes reported on Thursday that the number of oil and gas rigs in the US fell again this week by 62, falling to 602, with the total oil and gas rigs clocking in at 420 fewer than this time last year. Over the last four weeks, oil and gas rigs combined have shed a total of 190 rigs. The number of oil rigs decreased for the week by 58 rigs, according to Baker Hughes data, bringing the total to 504—a 329-rig loss year over year. It is the fewest number of active oil rigs since December 2016. The total number of active gas rigs in the United States fell by 4 according to the report, to 96. This compares to 189 a year ago. After holding steady for the better part of this year so far, the steep downward trajectory of the active rig count over the last […]