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Number Of Active Oil Rigs Falls By 11

Stock quotes in this article: BHI  

HOUSTON (AP) — The number of rigs actively exploring for oil and natural gas in the United States fell by 11 this week to 876, down more than 1,000 from a year ago.

Of the rigs running nationwide, 685 were exploring for natural gas and 183 for oil, Houston-based Baker Hughes Inc. reported Friday. Eight were listed as miscellaneous.

A year ago, the rig count stood at 1,901. The U.S. count is down 57 percent since the end of August as weak energy demand has hampered oilfield activity. ...

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