US rig count declines 18 on week to 1,109 as drilling activity dips to 10-month low: S&P

摘要

The combined US oil and gas rig count declined for the 10th-consecutive week Wednesday, falling 18 to 1,109 and fell to its lowest level since late-April 2018, data compiled by S&P Global Platts Analytics showed. The steady slowdown in drilling activity, which has seen the combined rig count decline from a multi-year high of 1,233 in mid- November, comes as US oil prices continue to linger in the low- $50/b range.