KM Financial Solutions | U.S. oil drillers cut rigs for a second week in a row -Baker Hughes
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U.S. oil drillers cut rigs for a second week in a row -Baker Hughes

U.S. oil drillers cut rigs for a second week in a row -Baker Hughes

By Scott DiSavino
Oct 13 (Reuters) – The U.S. oil rig count fell for a second
week in a row, extending a two-month drilling decline, even as
crude prices rallied to over $50 per barrel.
Drillers cut five oil rigs in the week to Oct. 13, bringing
the total count up to 743, the lowest since early June, General
Electric Co’s Baker Hughes energy services firm said in
its closely followed report on Friday.
The rig count, an early indicator of future outpu

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