Number of US oil rigs drop again, signifying that more cutbacks could still come

April 11, 2015 4:58 PM

65 0

Current reports from Baker Hughes indicate that the number of drilling oil rigs in the US fell so much this month that analysts think the trend might lead to cutbacks again.

According to Baker Hughes in its weekly release, oil and natural gas drilling rigs dropped to 988 this week, marking the first time the numbers would drop below 1,000 since September 2009 by the firm’s weekly counts.

Read more

To category page