Chevron Corp CVX:NYSE

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US Oil Rig Count Drops to Lowest Since Mid January 2018, Baker Hughes Says

2:07PM ET 8/23/2019 MT Newswires
The number of oil rigs operating in the US slumped by 16 to 754 during the week that ended Aug. 23, the lowest level since Jan. 19, 2018, according to data compiled by energy services firm Baker Hughes (BHGE).

The combined oil and gas rig count in the US fell by 19 to 916 as gas rigs fell by three to 162.

In Canada, the number of oil rigs in operation fell by six to 95, and gas rigs were up by three to 44 during the week in review.

As a result, the North American total slumped by 22 to 1,055 versus 1,273 a year ago, the data showed.

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