The number of oil and gas rigs in the United States fell by 3 this week, according to Baker Hughes , which reported the total rig count as 488, up 237 from the same time last year, but down sharply from the 790 active rigs prior to the pandemic. The U.S. oil rig count fell 2 this week to 385. The number of gas rigs slipped 1 to land at 103. The number of miscellaneous rigs also stayed the same. The EIA’s estimate for oil production in the United States for the week ending July 23 slipped by 200,000 bpd for the week to an average of 11.2 million barrels per day. Production is still nearly 2 million bpd shy of where it was before the pandemic. Canada’s overall rig count rose this week by 4. Oil and gas rigs in Canada now sit at 153 active rigs, up […]