Chevron Corp CVX:NYSE

Last Price$72.00NYSE Previous Close - Last Trade as of 7:00PM ET 9/30/20

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US Oil Rig Count Plunges to 15-Year low

1:25PM ET 8/07/2020 MT Newswires
The US oil rig count fell by four to 176 during the week that ended Aug. 7, its lowest level since July 2005, according to data compiled by Baker Hughes.

The combined oil and gas rig count for the US, which stood at 793 on March 6, was also down by four to 247 last week. Gas rigs were flat at 69.

In Canada, the oil rig count rose by two to 13 and the gas rig count was up by one to 34 during the period under review. As a result, the aggregate count for North America slipped by two to 294, compared with 1,074 a year earlier.