Baker Hughes on Friday reported that the number of U.S. rigs actively drilling for oil and natural gas as of May 1 fell 27 rigs from last week to 905. The count is down 949 rigs from last year. The number of oil rigs fell 24 for the week to 679. June oil was last at $58.70, down 93 cents, or 1.6%, on the New York Mercantile Exchange. It was trading around $58.46 right before the report was released.
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