Baker Hughes sees decrease in number of oil rigs in US

The number of active oil drilling rigs in the US has decreased by 11 units during the reporting week. This is the biggest weekly decline since September 2021, Report informs referring to Baker Hughes, an oilfield services company.

At the same time, the number of active gas drilling rigs decreased by 17 units last week, this is the strongest weekly decrease since June 2020.

The total number of active oil and gas drilling rigs in the week of May 13-19 decreased by 11 units to 720, the lowest since May 2022.

Compared to the same period last year, the indicator fell by 8 units, or 1%, according to Baker Hughes. This is the first such decline since April 2021.

US oil rigs in operation fell 11 units to 575, the lowest since June 2022, while gas rigs remained flat at 141, according to Baker Hughes.

The main decrease was in Texas, where the total number of rigs decreased by 9 units, to 355 in the reporting week. This is the minimum since May 2022.

The number of rigs at the Eagle Ford field decreased by 3 units to 59, the lowest since April 2022. The number of drilling rigs in the Permian Basin decreased by 4 units, to 349, the lowest since March.

The number of rigs in New Mexico rose 1 to 109, the highest since February.