Active U.S. Oil Rig Count Down 26 Weeks In a Row

The number of U.S. rigs actively drilling for oil fell for a 26th week in a row, according to data from Baker Hughes released Friday. The number of active oil drilling rigs saw a weekly fall of four to 642 as of June 5. Baker Hughes pegged the total active rig count at 868, down seven from last week. Compared to last year, the total rig count has fallen by 992, with the oil rig count down 894. July crude was down three cents at $57.97 a barrel on the New York Mercantile Exchange. It was trading at $57.77 before the data.