Number of oil and gas drilling rigs in US down

The number of operating oil and gas drilling rigs in the US fell to a minimum since the end of July - to 759 units during the reporting week, Report informs referring to the Baker Hughes oil service company.

The decline is observed, even despite the relatively high energy prices.

The number of oil drilling rigs in the reporting week decreased by 5 units, to a minimum since mid-June 591 units. The indicator rose by 4 units to 166 units, the highest since August 2019.

In August, the number of oil and gas drilling rigs declined after rising for 24 months. Over the past period of this year, oil prices have risen by about 16%, and in 2021 they have increased by 55%.