U.S. Rig Count Hits 620: Down 157 from Last Year

The total number of active drilling rigs in the United States fell again this week, by 3, falling by a total of 2 over the last four weeks, according to new data that Baker Hughes published on Thursday. The total rig count fell to 620 this week. Since this time last year, Baker Hughes has estimated a loss of 157 active drilling rigs.

This week’s count is 454 fewer rigs than the rig count at the beginning of 2019, before the pandemic. The number of oil rigs fell by 3 to 498. Oil rigs are now down by 124 compared to this time last year. The…