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After 4 months U.S. oil rig count falls

Staff Writer | October 28, 2016
The US oil rig count fell by two to 441 this week, according to oilfield services giant Baker Hughes. It was the first drop since the week of June 24.
U.S. oil rig falls
Oil exploration   Miscellaneous rigs were unchanged
Miscellaneous rigs were unchanged at two, while the gas rig count rose six to 114, taking the total up four to 557.

The tally of oil rigs rose in recent weeks, with oil prices near $50 per barrel and demand for drilling equipment on the rise. Last week, the oil rig count rose by 11.