Weekly US Oil, Gas Rig Count Drops by 7 to 1,993

The Associated Press reported that the number of oil and natural gas rigs in the U.S. declined by seven this week to 1,993.

As quoted in the market news:

Houston-based drilling product provider Baker Hughes Inc. reported Friday that 1,132 rigs were exploring for oil and 856 for natural gas. Five were listed as miscellaneous. A year ago this week Baker Hughes reported 1,713 active rigs.

Click here to read the full The Associated Press report.