US drillers cut oil and gas rigs for second week in a row - Baker Hughes:
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a ...
reuters.com/business/energy/us-drillers-cut-oil-gas-rigs-second-week-row-baker-hughes-2024-08-23/
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US Oil and Gas Rig Count Declines TwiceActive rigs fell to 585, down 7% year-over-year, marking the first consecutive weekly drop since June, Baker Hughes reports.
Key FactsAug 23, 2024 · Reading time: ~30 sec.
Summary created with AI assistance · Source: reuters.com
Summary created with AI assistance · Source: reuters.com
- The number of operating oil and natural gas rigs in the U.S. decreased for the second consecutive week ending August 23.
- Total rigs dropped by one to 585, representing a decline of 47 rigs or 7% compared to the previous year.
- Oil rig numbers remained steady at 483, while gas rigs fell by one to 97 during this period.
- Despite the recent decreases, U.S. crude output is projected to increase to 13.2 million barrels per day in 2024, with gas production expected to slightly decline.
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Key FactsUS Rig Count Hits Lowest Level Since 2021
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Summary created with AI assistance · Source: reuters.com
Summary created with AI assistance · Source: reuters.com
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Summary created with AI assistance · Source: wsj.com
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