The number of oil rigs operating in the US fell this week to remain at their lowest level in nearly two-and-a-half two years.
The crude equipment tally dropped by three to 710 in the week through Friday, the seventh straight weekly decrease and still the fewest working since the week ended May 5, 2017, data from Houston-based energy services firm Baker Hughes (BHGE) showed. A year ago, there were 861 oil rigs operating.
For oil and gas, the US total number of rigs working this week was down by five to 855, as gas slowed by two to 144. In the same period of 2018, there were 189 gas rigs in operation and 1,052 in total.
On Friday, West Texas Intermediate, the US crude benchmark, was up 0.1% to $52.52 a barrel while Brent, the international standard, added 0.7% to $58.13 a barrel.
Across North America, oil and gas rigs were up 12 to 999, and was down 235 year-on-year. In Canada, the tally was up by 17 to 144 in total, compared with 182 operating in the same time of 2018. Canada’s oil count was up by 17 to 105 and gas was unchanged at 39.
Among the US states, top producer Texas lost four rigs while Oklahoma lost three, and West Virginia fell two. New Mexico added four rigs while Alaska, North Dakota, and Utah each added one.