U.S. energy companies cut 66 oil rigs in the week ending April 17, 2020, bringing the total count to 438, General Electric Co.’s Baker Hughes energy services firm said in its closely followed report on Friday.
The gas rig count also declined by 7 rigs week-on-week to 89 rigs, while it fell by 98 rigs compared to the same week a year earlier.
|
US Oil & Gas Rigs |
|||||
|
Rigs |
A year earlier |
Week ending April 10 |
Week ending April 17 |
Week-on-week variation |
Y-o-Y variation |
|
Oil |
825 |
504 |
438 |
(66) |
(387) |
|
Gas |
187 |
96 |
89 |
(7) |
(98) |
|
Oil & Gas |
1012 |
600 |
527 |
(73) |
(485) |
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