Pages Navigation Menu

Corrosion Engineering | Electrical Engineering

U.S. oil drillers cut rigs for fifth week in a row

U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row and the rig count has dropped 24% year-on-year as producers cut spending on new drilling.Drillers cut three oil rigs in the week to Nov. 22, bringing the total count down to 671, the lowest since April 2017, energy services firm Baker Hughes Co said in its closely followed report on Friday.

U.S. oil drillers cut rigs for fifth week in a row