On Friday, Baker Hughes Company (NASDAQ:BKR) reportedly stated that U.S. energy firms reduced the number of oil and natural gas rigs for the second consecutive week, marking the first such decline since late June.
The oil and gas rig count decreased by one to 585 for the week ending August 23, bringing the total count down 47 rigs, or 7%, below the same period last year, reported Reuters.
The oil rigs remained steady at 483, while gas rigs fell by one to 97 this week. The rig count dropped about 20% in 2023 following significant increases in 2021 and 2022, ...
