Active U.S. Oil Rig Count Down 25 Weeks In a Row

The number of U.S. rigs actively drilling for oil fell for a 25th week in a row, according to data from Baker Hughes released on Friday. The number of active oil rigs saw a weekly fall of 13 to 646 as of May 29. Baker Hughes pegged the total active rig count at 875, down 10 from last week. Compared to last year, the total rig count has fallen by 991, with the oil rig count down 890. July crude was up at $60.24 a barrel on the New York Mercantile Exchange. It was trading at $59.95 before the data.