Baker Hughes Says US Oil Rigs Drop to 415

The number of active drilling rigs in the United States slipped this week, according to Baker Hughes’ latest survey. The total count fell by two to 542 for the week ended 25 July, from 544 a week earlier. Oil-directed rigs accounted for the decline, dropping by seven to 415, while gas-directed rigs rose by five to 122. The figures provide a snapshot of near-term upstream activity and are closely watched for indications of future crude and natural-gas supply.