Active U.S. Rig Count Falls, With Oil Rigs Down 28th Straight Week

The number of U.S. rigs actively drilling for oil fell for a 28th 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 4 to 631 as of June 19. Baker Hughes pegged the total active rig count at 857, down 2 from last week. Compared to last year, the total rig count has fallen by 1,001, with the oil rig count down 914. July crude was down $1.24, or 2.1%, at $59.21 a barrel on the New York Mercantile Exchange. It traded around $59.07 before the data.