Baker Hughes reported on Friday that the number of oil rigs in the United States fell by 3 to 180, after rising last week for the first time since January. The total number of active oil and gas rigs held steady for the week, with oil rigs falling by 3 and gas rigs increasing by 3. Total oil and gas rigs in the United States are now down by 650 compared to this time last year. The EIA’s estimate for oil production in the United States stayed the same for the week ending August 21—the last week for which there is data, at 10.8 million barrels of oil per day. Oil production in the United States is now 2.3 million bpd less than its all-time high reached earlier this year. Canada’s overall rig count fell by two this week, after increasing by 2 last week. Oil and gas rigs […]