Active U.S. Oil Rig Count Down 27 Weeks In a Row

The number of U.S. rigs actively drilling for oil fell for a 27th week in a row, according to data from Baker Hughes released on Friday. The number of active oil drilling rigs saw a weekly fall of 7 to 635 as of June 12. Baker Hughes pegged the total active rig count at 859, down 9 from last week. Compared to last year, the total rig count has fallen by 995, with the oil rig count down 907. July crude was down 57 cents, or 0.9%, at $60.20 a barrel on the New York Mercantile Exchange - about the same level it was at before the data.