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U.S. oil and gas rig count falls to record low for 10th week

Christian Fernsby |
U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for a 10th week in a row.

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Topics: U.S.    OIL    GAS   

The U.S. oil and gas rig count fell by five to an all-time low of 258 in the week to July 10, according to Baker Hughes.

That was 700 rigs, or 73%, below this time last year.

U.S. oil rigs fell by four to 181 this week, their lowest since June 2009, while gas rigs dropped by one to 75, matching its record low hit a couple of weeks ago, according to data going back to 1987.

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