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Commodity Futures - Pre-session commentary
Energy preview: US Drilling Activity Snaps Four-Week Winning Streak As on : 18-Dec-23  08:35

The total number of active drilling rigs in the United States fell by 2 last week after climbing by 10 over the course of the last four weeks, according to new data that Baker Hughes published Friday. The total rig count fell to 624 last week. Since this time last year, Baker Hughes has estimated a loss of 160 active drilling rigs. Last week?s count is 451 fewer rigs than the rig count at the beginning of 2019, before the pandemic. The number of oil rigs fell by 2 to 501. Oil rigs are now down by 119 compared to this time last year. The number of gas rigs stayed the same this week at 119, a loss of 35 active gas rigs from this time last year. Miscellaneous rigs fell by 1.

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