Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week by 57, falling to 408, with the total oil and gas rigs sitting at 582 fewer than this time last year as U.S. drillers continue to be squeezed between oversupply and under demand. Over the last seven weeks, oil and gas rigs combined have shed a total of 384 rigs. The number of oil rigs decreased for the week by 53 rigs, according to Baker Hughes data, bringing the total to 325—a 482-rig loss year over year. It is the fewest number of active oil rigs since June 2016. The total number of active gas rigs in the United States fell by 4 according to the report, to 81. This compares to 183 a year ago. The number of active rigs taken offline over the last seven weeks is […]