New York-The US oil rig count headed lower again this week as producers continued to sideline rigs and wait for higher prices before ramping up activity. Oil rigs fell by 11 to 332 this week, the lowest level since November 2009,according to Baker Hughes weekly report. A year ago there were 679 rigs working in the US oil patch. Bakken producer, Whiting Petroleum said this week it was waiting until crude hit $50/b before exploiting its DUCs (drilled but uncompleted) inventory of wells.
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