U.S. oil and gas rig count hits record low for ninth week
Topics: U.S. OIL
The U.S. oil and gas rig coun fell by two to an all-time low of 263 in the week to July 2, according to data on Thursday from Baker Hughes.
That was 700 rigs, or 73%, below this time last year.
Baker Hughes released the rig count a day early on Thursday because the markets are closed a day ahead of the U.S. Fourth of July holiday which falls on a Saturday.
U.S. oil rigs fell by three to 185 this week, their lowest since June 2009. ■