Baker Hughes Data Show Decline In Active U.S. Rig Counts Slowing

MarketWatch Pulse

Baker Hughes on Friday reported that the number of U.S. rigs actively drilling for oil and natural gas as of May 22 fell by 3 rigs from last week to 885. The count is down 972 rigs from last year. The number of oil rigs fell 1 rig for the week to 659. July oil was last at $59.70, down $1.02, or 1.7%, on the New York Mercantile Exchange. It traded at $59.63 right before the report.

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