Baker Hughes reported on Friday that the combined oil and gas rig count in the U.S. fell this week by 4, to 247. The total oil and gas rigs are down by 687 compared to this time last year. The number of oil rigs slipped for the week by 4 rigs, according to Baker Hughes data, bringing the total to 176, compared to the 764 active oil rigs this time last year. Two of those four rigs lost this week were in the Permian Basin. The total number of active gas rigs in the United States stayed the same at 69 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 fell for the week ending July 31—the last week for which there is data, at 11 million barrels of oil per […]