U.S. Rigs Drop by 60- Plus for Fourth Straight Week as Pandemic Decimating Oil Activity

摘要

The freefall in the U.S. rig count showed no signs of letting up during the week ended Friday (April 24) as yet another steep drop-of in oil-directed activity sent the overall domestic tally tumbling below the 500-unit mark, according to the latest fgures from Baker Hughes Co. (BKR). What was once extraordinary has now become routine, as the weekly domestic count declined by more than 60 units for the fourth week in a row, shedding 64 rigs to end at 465. Losses for the week included 60 oil-directed units and four gas-directed. The U.S. count has fallen by 327 units since March 13 and now sits 526 units behind its year-ago total, BKR data show.