U.S. energy firms this week cut the number of oil rigs operating by the most since September 2021, reducing the overall count for a fifth week in a row, energy services firm Baker Hughes Co said in its closely followed report on Friday.
Drilling rigs operate at sunset in Midland, Texas, U.S., February 13, 2019. Picture taken February 13, 2019. REUTERS/Nick Oxford
In Texas, home to several oil and gas fields including the Permian, the nation's biggest oil shale basin, drillers cut six rigs this week, reducing the state's land rig count to 351, the lowest since May 2022.
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