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U.S. oil rig count falls to lowest since April 2018

Staff Writer |
U.S. energy firms this week reduced the number of oil rigs operating for a fourth week in a row, General Electric’s Baker Hughes said.

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Drillers cut one oil rig in the week to March 15, bringing the total count down to 833, the lowest since April 2018.

The U.S. rig count, an early indicator of future output, is a little higher than a year ago when 800 rigs were active after energy companies boosted spending in 2018 to capture higher prices that year.

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