US Oil Drillers Scale Back as Global Supply Crunch Continues

The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 544, down 43 from this same time last year. But the number of active oil rigs specifically slipped by 3 to 407 during the latest reporting period, according to the data. This is 68 below this same time last year. The number of gas rigs rose by 4 after falling by 2 in the week prior. Gas rigs now sit at 129, which is 22 more than this time last year.…