The number of oil and gas drilling rigs in the United States has decreased

MOSCOW, 12 Sep — PRIME. The number of active oil and gas drilling rigs in the US fell to the lowest level since the end of July this reporting week. The decline is observed, even despite the relatively high energy prices. This was reported on Friday by the oilfield service company Baker Hughes.

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1 World oil prices fell by 1.5 percent due to fears around demand

2 The United States stopped buying ferrous metals from Russia

3 Related posts:

World oil prices fell by 1.5 percent due to fears around demand

The number of active oil and gas drilling rigs, the leading production indicator, dropped one unit to 759 units in the week of September 3-9, according to Baker Hughes.

Despite the decline in the reporting week, the number of drilling rigs is still 256 units or 51% higher than in the same period last year.

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The number of oil drilling rigs in the reporting week decreased by 5 units, to a minimum since mid-June 591 units. The number of gas drilling rigs increased by 4 units to 166 units, the highest since August 2019.

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In August, the number of oil and gas drilling rigs declined after rising for 24 months. Over the past period of this year, oil prices have risen by about 16%, and in 2021 they have increased by 55%.

Previously, the number of rigs grew at a slow pace, as many companies are focused on paying dividends to investors and servicing debt, rather than increasing production.