US oil and gas rig count drops for fourth week in five – Baker Hughes

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U.S. energy companies cut the number of operating oil and gas rigs this week for the fourth time in five weeks, even as oil prices remain relatively high.

The number of U.S. oil and gas rigs, an early indicator of future production, fell 5 to 760 in the week to Sept. 2, energy services firm Baker Hughes Co said in its tracking report on Friday. from close. (Reporting by Kavya Guduru and Seher Dareen in Bengaluru; Editing by Chizu Nomiyama)