Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week, by 5, to 253, marking the nineteenth straight loss in the number of active rigs, even as some analysts were predicting a rise in the number of active drilling rigs. The total oil and gas rigs is now sitting at 701 fewer than this time last year. The number of oil rigs decreased for the week by 1 rig, according to Baker Hughes data, bringing the total to 180—compared to 779 active rigs this time last year. The total number of active gas rigs in the United States fell this week by 4 rigs, landing at 71 total rigs. This compares to 174 rigs a year ago. To compare active rigs with supply figures, the EIA’s estimate for oil production in the United States was steady for the fourth […]