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US oil rig count hits 14-week low: Baker Hughes
16/02/2024
Argaam Exclusive
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The US drilling rig count fell two units to 497 in the week ended Feb. 16, Baker Hughes energy services firm said in its closely followed report on Friday.
This is the lowest level since Nov. 10, 2023, when the rig count reached 494.
Meanwhile, the gas rig count held steady at 121. This is the highest level compared to 123 in the week ended Aug. 11.
Oil and gas exploration platforms - USA
| Item | Year Before | Last Week | Current | Weekly Change | Yearly Change |
|---|---|---|---|---|---|
| No. of Rig Count | 607 | 499 | 497 | (2) | (110) |
| Gas | 151 | 121 | 121 | 0 | (30) |
| Oil & Gas | 758 | 620 | 618 | (2) | (140) |
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