US drillers cut 21 oil rigs in week ending Jan. 18: Baker Hughes

19/01/2019 Argaam

 

U.S. energy companies cut 21 oil rigs in the week ending Jan. 18, bringing the total count to 852, General Electric Co.’s Baker Hughes energy services firm said in its closely followed report on Friday.

 

The natural gas rig count decreased by four rigs to 198 rigs for the week, compared to 189 rigs a year earlier.

 

The U.S. rig count, an early indicator of future output, is still much higher than a year ago when 747 rigs were active after energy companies boosted spending in 2018 to capture higher prices that year.

 

US oil & gas rigs

Rigs

A year ago

Previous week

Week ending Jan. 18

Week-on-week change

YoY

Oil

747

873

852

(21)

105+

Gas

189

202

198

(4)

09+

Oil & Gas

936

1075

1050

(25)

114+

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.