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Oil rig count falls first time in nearly 3 months

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Staff Writer | January 13, 2017
Oil rig count
Oil exploration   The tally of oil rigs rose last week

The U.S. oil rig count fell this week for the first time in 11 weeks, according to Baker Hughes.

The number of active oil rigs fell by seven to a total of 522. One gas rig was added, taking that total to 136.

The additional miscellaneous rig put the combined count at 659, down by six on net.

The tally of oil rigs rose last week to the highest level in one year, as demand for oilfield-services equipment increased with oil prices.


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