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U.S. oil and gas rig count hits record low again

Christian Fernsby |
U.S. energy firms cut the number of oil and natural gas rigs operating to a record low.

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Topics: U.S.    OIL   

The U.S. oil and gas rig count, an early indicator of future output, fell by five to an all-time low of 279 in the week to June 12, according to Baker Hughes.

That was 690 rigs, or 71%, below this time last year.

U.S. oil rigs fell seven to 199 this week, their lowest since June 2009, while gas rigs rose two to 78.

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