US drillers cut 2 oil rigs in week ending Oct. 5: Baker Hughes

U.S. energy companies cut two oil rigs in the week ending Oct.5, bringing the total count to 861, General Electric Co.’s Baker Hughes energy services firm said in its closely followed report on Friday.

The natural gas rig count remained unchanged at 189 for the week, compared to 187 rigs a year earlier.

The U.S. rig count, an early indicator of future output, is higher than a year ago when 748 rigs were active when energy companies ramped up production amid higher prices. Since June, however, the number of rigs has stalled in the 860s.