Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week, by 2, to 251, marking the twentieth straight loss in the number of active rigs. The total oil and gas rigs are now sitting at 695 fewer than this time last year. The number of oil rigs increased for the week by 1 rig, according to Baker Hughes data, bringing the total to 181—compared to 776 active rigs this time last year. The total number of active gas rigs in the United States fell this week by 3 rigs, landing at 68 total rigs. This compares to 169 rigs a year ago. To compare active rigs with supply figures, the EIA’s estimate for oil production in the United States rose for week ending July 17—the last week for which there is data, to 11.1 million barrels of oil per […]