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Total active rigs drilling for oil and gas in the U.S. fell by another 7 to 581, the rig count’s fourth consecutive weekly decline and eighth loss in the past 10 weeks, Baker Hughes reported Friday.
Drilling rigs targeting crude oil in the U.S. dropped 6 to 479, its fifth straight week of declines, while gas rigs shed 1 to 97 and 5 rigs were classified as miscellaneous.
For the total rig count, the reading was the lowest since December 2021 and down by 93 rigs, or 14%, below this time last year.
Rigs targeting oil in the Permian Basin fell by 3 to 303, and rigs in the Eagle Ford also lost 3 to 44.
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